MOSCOW, Russia — Russia’s central bank on Friday cut its benchmark interest rate to 15.5 percent from 16 percent as economic growth slows under the impact of the war in Ukraine and Western sanctions. Russia’s economy expanded by just 1 percent last year, a steep drop from growth of around 4 percent recorded in 2023 and 2024. Huge spending on its forces in Ukraine had initially spurred growth and helped Moscow buck predictions of economic collapse after it launched its offensive in 2022. READ: Ukraine at war: Battered by Russia and winter but unbending But the outlays pushed up inflation, while businesses […]... Keep on reading: Russian central bank cuts interest rate to 15.5% as growth slows