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...
There are a lot of people who buy without putting much thoughts. However, this buy, buy, buy mentality could be dangerous and bad for our society as well as the environment. This is because we are a very consumer driven generation. However, if you could stop for a minute and think as well as ponder, your wallet and Mother Nature will be very grateful. REDUCE Give yourself some time to think and ask if you can use less than what you are using. Sometimes, it is possible to make do with less of what we are using. For example, toiletries are the perfect example. If you do not waste shampoo or detergent, you will help to save a lot. This is all day-t0-day products that could make a huge difference. Another good example would be the mobile phones. How many of us are changing phones every year? There are a lot of us who change mobile phones every now and then as we chase after the latest model. If we could save money from all these products, we will be saving a lot more. Besides, it also cont...