Day: December 6, 2022

Explosions that struck two military airbases deep inside Russia on Monday were the result of drone attacks launched by Ukraine, according to Russian and Ukrainian officials, in what appeared to be an audacious attempt to hit the long-range bombers Russia has used to devastate Ukraine’s power grid. Russia’s defense ministry on Monday confirmed the attacks on the bases that are located hundreds of miles from the frontline, saying two of its aircraft were damaged and three military personnel killed. The unprecedented strikes were the first time Ukraine has hit so far into Russia, targeting bases that had generally been thought of as untouchable, according to military experts. A senior Ukrainian official from President Volodymyr Zelenskyy’s circle, speaking on the condition of anonymity, to...

 Australia's central bank has raised its benchmark interest rate by a quarter-point to 3.1% as it continues trying to wrestle down inflation. The increase was the bank's eighth in a row and took the rate to its highest level in 10 years. Still, Australia's rate hikes have remained relatively modest and its key rate remains lower than in many other countries including the United States, where the Federal Reserve has raised its key interest rate to a range of 3.75% to 4%. Reserve Bank of Australia Governor Philip Lowe said inflation remained too high at 6.9%. That's well above the bank's target inflation rate of between 2% and 3%. “Global factors explain much of this high inflation, but strong domestic demand relative to the ability of the economy to meet that demand is also playing a ro...