The article examines how changes in Russia's monetary policy impact the economy. By analyzing a wide range of economic data, the researchers found that raising interest rates doesn't always lower inflation as expected. Instead, it can hurt investments, retail sales, wages, and employment. Different industries react differently to these policy changes, with export-focused businesses being less affected than domestic ones like construction. Overall, the study suggests that tightening monetary policy in Russia may not be the best way to control inflation.