Russia's central bank cut its key interest rate by 50 basis points to 15.5% on Friday and signalled that rates could fall further in a bid to shore up the slowing wartime economy, which is struggling with high borrowing costs. The bank's surprise cut came just 10 days after President Vladimir Putin told top officials from the government and central bank to restore the economic growth rate and urged them not to simply monitor prices. Governor Elvira Nabiullina said that the bank considered holding the rate or cutting by 50 basis points, and that there had been a debate over data showing a sharp rise in prices at the start of the year.