MOSCOW, June 3. /TASS/. Russia’s Economic Development Ministry expects a timely easing of the monetary policy to maintain the targeted growth rates, Minister Maxim Reshetnikov said.

"The current task is to correctly go through the slowdown period. We expect a timely easing of the monetary policy for maintaining the targeted growth rates of 3% outlined by the president in the future," he said in the Federation Council (upper house of the parliament).

The tightening of the monetary policy and banking regulation measures influence the credit squeeze, the minister added. "The demand for investment products, first of all for products of machine building, special equipment, freight motor and light commercial transport, buses, is contracting," he said.