The Deputy Governor of the Central Bank of Russia, Dmitry Tulin, said that cutting its key rate now would not lead to economic growth in the current conditions.
"We consider the impact of monetary policy on the state of the real economy. If we believed that our policy is too tight and it kills the real sector and strangling the economic growth, we would have chosen a different trajectory of the key rate. We believe that cutting the key rate would not lead to economic growth in the current conditions," the first deputy chairman of the Central Bank said.