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...
Well, in just less than 25% of a day, it will be 2012. It also means that we should all have our mind set on what are the financial goals that we are expected to achieved and proper execution plans to meet those financial goals. Like last year in my Looking Back 2010 Before Setting Financial Goals for Year 2011 , I will also start have a quick check on my financial year 2011 and what I have achieved and what I have failed to achieve and the reasons for failing to achieve the financial goals that I have set for the year. I have very simple 2011 financial goals and it is sort of generic as well. The generic goals were to Continue tithing Clearing 10% debt Stocks portfolio to grow another 15% I am pretty sure that I have successfully completed the three financial goals that I have set. Tithing requires discipline and I always ensure that I set aside the money to tithe. Debt repayment is also the same. I always set aside the same amount of money to pay my car loan and this year, I again m...