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...
It has been a rather frustrating week for Bursa Malaysia...the negative sentiments of the lower oil prices, weaker Ringgit has been very bad for FBM KLCI.
It was a great relief as the benchmark open with a slight drop.
The rebound is most likely due to the oversold in previous days.
Of course, many are still wary of the market and predict that the downtrend might continue with the oil price continued to be under pressure.
It is also important to take note of the weaker ringgit against the USD, at 3.4698.
On the other hand, most of the Asian counters rose slightly. China’s Shanghai Composite gained 1.32% while Hong Kong’s Hang Seng Index advanced 0.71%.
Here are the top gainers and top losers:
But there was some improvement today as the stock market close at 1749.37 points (+3.68 points/0.21% higher).
It was a great relief as the benchmark open with a slight drop.
The rebound is most likely due to the oversold in previous days.
Of course, many are still wary of the market and predict that the downtrend might continue with the oil price continued to be under pressure.
It is also important to take note of the weaker ringgit against the USD, at 3.4698.
On the other hand, most of the Asian counters rose slightly. China’s Shanghai Composite gained 1.32% while Hong Kong’s Hang Seng Index advanced 0.71%.
Here are the top gainers and top losers:
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| Top Gainers |
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| Top Losers |
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