Russia Cuts Key Rate to 14% as Drone Strikes Batter Economy

Russia's central bank has cut its key interest rate to 14% as economic pressure mounts due to ongoing drone strikes linked to the war in Ukraine. This move continues the bank's easing cycle, aiming to offer some relief to businesses struggling amid severe economic conditions. While the rate cut might provide a modest boost, the persistent conflict and strikes continue to cast a long shadow over the nation's economic outlook. For many, this underscores the broader challenges facing the Russian economy amidst ongoing geopolitical tensions.