Is this a sign of a soft or hard landing for an economy?

Yesterday, the Russian central bank announced the interest rate being cut to 17%. While Putin says that the economy is going to have a "soft landing," sources like Financial Times believe Russia is running out of money and will eventually reduce some subsidies (due to wartime economy and spending).

Is a rate of 17%, which went against earlier predictions, a sign of soft or hard landing? What exactly does this mean for Russia (in terms of financial strain and economic outlook)?