Bank of Russia Lowers Key Rate to 14% Despite Inflation Spike from Drone Strikes
The Bank of Russia cut its benchmark rate by 25 basis points to 14% even as inflation accelerated following Ukrainian drone attacks on oil refineries and an e-commerce warehouse. The central bank also pared its growth projection for the year to a range between zero and 1% and lifted its 2026 inflation forecast to 6-7%, citing a notable rise in fuel…