Page 3 - Sofya Donets News Today

In central Moscow, retired businessman Igor Inkin is preparing to turn down simple pleasures like dessert as the value of the ruble in his pocket continues to slide.

As their country continues to wage war against Ukraine, some Russians are upset that desserts are becoming more expensive.

(Bloomberg) -- Russia is poised for its first interest-rate hike since emergency measures taken after the invasion of Ukraine almost 17 months ago, as a stretch of steep currency depreciation forces the central bank’s hand.Most Read from BloombergBillionaire Sternlicht Sees ‘Category 5 Hurricane’ Spurred by Fed Rate HikesApple Tests ‘Apple GPT,’ Develops Generative AI Tools to Catch OpenAISelloffs, Inequality, China Tension: Here Are the Next Big RisksNadella&#...

The ruble selloff necessitates a new tightening cycle, said Tatiana Orlova of Oxford Economics.

The central bank on Friday lifted its benchmark to 8.5% from 7.5%.

June 7 (Reuters) - The rise in Russia's weekly consumer prices has accelerated sharply this month, data showed on Wednesday, justifying the central bank's decision to maintain a hawkish stance in the run-up to its next interest rate meeting... | 12:00pm

(Reuters) - As Russia's military spending soars and sanctions squeeze its energy revenues, Moscow faces a battle to keep its budget deficit in check, with few economists now expecting the finance ministry to stick to its promise of a deficit no higher than 2% of GDP. | 08:12am

Moscow's budget deficit surged to $45 billion, but is expected to shift to a surplus later this year, the Finance Ministry says Read Full Article at RT.com

Russia’s current-account surplus dwindled over the first quarter of this year by $51 billion compared to this quarter last year, Russia’s central bank data shows

In the aftermath of Russia's invasion of Ukraine, Western leaders heralded a sanctions regime that would cripple the country's war machine.