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...
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| REDDISH START FOR FBMKLCI |
Forget the champagne, the Christmas tree, the gifts, the holidays....2016 kickstart and FBMKLCI brings Malaysian back to reality....39.14 points dropped. That's a 2.31% decline from where we were on 31st December 2015.
Of course, Malaysians will be relief that we are not the only one....most likely, no other countries take it worse than China did....Shanghai Shenzhen CSI 300 Index fell 7% to trigger the "circuit breaker" on the very first day that the trading suspension mechanism came into effect.
Here's a summary for the day:
A total of 1.92 billion shares, worth RM1.734 billion, were done for the whole trading session.
The top losing counter was British American Tobacco Malaysia Bhd, while the top gainer was United Plantations Bhd.
The most actively-traded stock of the day was Instacom Group Bhd, with a trading volume of 85.77 million shares.
So what do you think? Will this red and bear period be a short one or a longer one? Many cites China as the benchmark....let's wait and see how the market in US will perform on the first day of 2016...
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