Describe the various channels of monetary transmission mechanism. 

The monetary transmission mechanism describes how changes in monetary policy affect the economy, particularly output and inflation. There are several key channels through which this transmission occurs:

1. Interest Rate Channel: Central banks influence the economy primarily by altering short-term interest rates. Lower interest rates reduce the cost ______ ___ _______ ______ _____ _____ ________ __________ ___ _____ ____ ______.
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