OREANDA-NEWS. March 20, 2015. Russia's President Vladimir Putin said on Thursday that the central bank's key rate remains rather high, but it is warranted by current conditions.

"Indeed, for now the key rate is high enough," Putin told a conference of Russian entrepreneurs. "For now, there are no fundamental basis for us to feel confident."

The central bank cut its key rate, the one-week repurchasing rate, last week to 14 percent.