Russia's central bank delivered a modest interest rate cut on July 24, despite a spike in inflation driven by spiralling fuel prices triggered by mass Ukrainian strikes on refineries.

Experts noted that the room for further monetary easing has narrowed due to accelerating inflation driven by rising fuel prices, higher inflation expectations

Russia's Central Bank lowered its key interest rate from 14.25% to 14% on Friday as it continues down a cautious path of monetary easing despite concerns that Ukrainian attacks on…