Russia's central bank cuts GDP forecast and interest rate amid war pressure

Russia's central bank cut its 2025 GDP growth forecast from 0.5–1.5% to 0–1% and lowered the key interest rate from 14.25% to 14%. At the same time, it raised the projected inflation rate for 2026 from 4.5–5.5% to 6–7%. The revisions come amid mounting economic pressure linked to Ukrainian strikes on Russian territory, according to Reuters.