By Jesús Aguado and Emma Pinedo MADRID (Reuters) – Spain’s central bank on Tuesday lowered its economic growth forecast for this year and next due to the impact of inflation stoked by Russia’s invasion of Ukraine, and said the pace of recovery had already slowed down in the first quarter. Inflation is projected to rise to 7.5% in 2022. The Bank of Spain now expects gross domestic product to expand 4.5% in 2022, down from its December estimate of 5.4%. Growth is then expected to slow to 2.9% in 2023, also less than the previously predicted 3.9%. “The conflict in Ukraine and the economic sanctio…