The galvanomagnetic properties of the 2D Rayleigh model (isotropic matrix with two-periodic arrangement of circular inclusions) with the metal-insulator phase transition are considered. The expression obtained for the corresponding effective conductivity tensor (sigma(e)) over cap is valid in the entire subthreshold critical region (up to the contacts of circles) in the vicinity of the transition point. The behavior of components of tensor (sigma(e)) over cap in weak and strong magnetic fields is determined.