The Russian central bank has cut its key interest rate by a full percentage point, a surprise move by the bank, which it justified by pointing to declining inflation pressure and a more robust rouble.

KYIV, Ukraine (AP) — Russia struck Ukraine with a thunderous aerial bombardment overnight, further dampening hopes that the warring sides could reach a peace deal anytime soon days after Kyiv embarrassed the Kremlin with a surprising drone attack on military airfields deep inside Russia.