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'm continuing from where I left last year regarding this topic ..... links. No doubt, EPF is the safest bet for our retirement besides FD, which is why it is necessary for us to save some money in EPF. So this means that EPF is necessary.....only as retirement fund in which I would assume it will not be sufficient as well. The debate on EPF and KLCI is actually started when our DPM announced that EPF contribution by employee can be reduced to 8% where the extra 3% can be use to spur the economy ....as if the 3% would make a different. Unless your annual income is more than RM75k, reducing to 8% only benefits the government. You only pay more income tax by reducing it to 8%. Take the following scenario:- Annual income = RM55 000 a) EPF contribution (11%) = RM6 050 (max income tax deductable capped at 6k) b) EPF contribution (8%) = RM4 400 (RM1 600 extra is taxable) From the above scenario, by just changing the EPF contribution 3% less, you will have RM1600 extra, which is taxable,...