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...
The first universal rule of personal financial management is to spend less than what you have earn, but that alone is not enough. It is good for one to be able to control his or her own temptations from the materialistic world. However, as we know that the inflation actually drives a lot of things to become more expensive, hence living within means will not be sufficient. The next universal rule of personal financial management is to earn more. This one is a little bit more tricky than spending less than what you have earn especially for the working class because the salary is limited to what companies can offer. Even if this rule is not easy to apply to our life, we should really plan and think of the ways to earn more. There are reasons why earning more is important, in fact, it is as important as the rule number one which is to spend less than what you earn. Companies which are focusing on cost control will doom to fail in the future because there is no growth in the compa...