The Bank of Russia unexpectedly maintained its key interest rate at a record-high 21% , defying analysts’ expectations of another significant hike as inflation remains stubbornly elevated. The decision marks a shift toward a more measured approach in balancing economic growth and price stability. Key Details Inflation Concerns: Annual inflation climbed to 8.9% in November, well above the central bank’s 4% target , with inflation expectations reaching 13.9% in December. Policy Rationale: The central bank cited the significant tightening of monetary conditions after October’s 200-basis point hike as sufficient to resume disinflationary processes. Governor Elvira Nabiullina emphasized avoiding both economic overheating and severe slowdowns. Economic Overheating: Elevated government spending on the war in Ukraine and social programs, coupled with labor shortages and rising wages, have fueled strong domestic demand, exacerbating price pressures...
I have been reading my brother's blog lately and allowing him to do most of the editing and updating. This is because I believe that he is more knowledgeable in this expect. and truthfully he has been doing a great job in maintaining the quality of this blog. Today I am going to talk about the goals and plans that one must have in order to achieve success in this life. I've just watched the movie "Pursuit of HappyNess" that star Will Smith. A movie inspired by true story...about this man, Chris Gardner. He was struggling in his battle to work for a prestigious stock brokerage firm as intern. Although he has to go through six months without salaries, his perseverance and determination reap a great results. Today he is one of the millionaires and open his own brokerage firm, Gardner Rich & Co. As I watched the struggles he had to go through, one thing I realized was that he never gave up hope and keep doing his best with whatever that he could to achieve his aim. I...