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Story summary
- Russia's central bank cut its benchmark interest rate to 14% on Friday, down from 14.25%.
- The bank cut the 2026 GDP growth forecast to 0-1% from 0.5-1.5% and lifted the 2026 inflation outlook to 6%-7%.
- Annual inflation reached 6% in June while petrol prices jumped 16% year-to-date, a rise linked to Ukrainian drone attacks on oil refineries and Wildberries supply shocks.
