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...
We all know the essential of using money to generate more income but how many of us could really said that? The other day I was reading an article about this man who retired at the age of 30.
According to this man, retirement means you no longer have to work for money.
No doubt bout that...easier said than done.
Recently a good friend of mine actually bought a new car....Toyota Vios....while it is nothing too big to shout about changing a car that is more reliable, I felt that my friend should practice a bit of proper planning. Since we were very close, I happened to know that his debts are quite a large sum to handle....not forgetting about the expenses on a monthly basis. Well, I guess this is what is happening to this generation, me included...that so often, we spend on an impulse, and in the long run, we become a generation of workers, because there are so many unnecessary commitments.
Maybe it is really time to consider about our culture of "spending madness"...something that Generation Y must learn to handle.
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