❕The Bank of Russia lowered the key rate to 14% and updated its economic
❕The Bank of Russia lowered the key rate to 14% and updated its economic outlook: ▪Russia's annual inflation stood at 5.9% as of July 20 ▪Annual inflation in Russia is expected to remain at the target level in 2027 and beyond ▪The Bank of Russia lowered its 2026 GDP growth forecast for Russia to 0-1%, while leaving its 2027-2028 forecast unchanged ▪A more gradual reduction in the key rate is needed than previously…