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...
So, it's the time of the year again - the income tax season. For those who has already getting their salary deduction monthly through the PCB or Scheduler Tax Deduction (STD) , this is the time where you can claim back what you have paid in advance to the government. The purpose I am writing this blog post is to remind as many as possible to do the income tax filing as soon as possible; reason being, you will get your income tax refund faster and you will get the peace of mind of having something done before the deadline. There is still another 30 days to go before the deadline, so some might still been struggling to find or get receipts to prove their tax reliefs claim, but in my opinion, for those who are having taxable income in the middle of one tax bracket, those reliefs won't really affect much - unless the deduction brings you to a lower tax bracket. What is tax reliefs? It is defined as “an amount that can be deducted from a person’s annual income to reduce the amo...