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...
Today I've read an article from The Star and I do share the same sentiment with the writer that not all debt is bad especially this quote " Smart money management is not about avoiding debt; rather it is about choosing the right debt and making it work harder for you." The article also mentioned slightly on how to utilize the credit card to free up more cash flow which in the end can be use to generate more passive income. The article is as follows:- SINCE the US subprime mortgage crisis of 2007–2008, we have had an influx of credit and debt related news such as the European sovereign debt crisis (often referred to as the eurozone crisis), the European Central Bank’s quantitative easing (QE) programme and, closer home, 1MDB. It all sounds pretty daunting to the average ears and lends credence to the public’s general fear of debt. But what is debt? The Merriam-Webster dictionary defines it as “an amount of money that you owe to a person, bank, company, etc” whil...