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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| FBM KLCI closed marginally lower |
Malaysians who are in the stock market must be fascinated with the stock market movement because of its volatility. The fluctuation of the market happened in a period of the financial reporting season in the country.
The KLCI fell to 1,674.59 despite a rise in major Asian share markets. Japan's Nikkei 225 rose 0.9% while Hong Kong's Hang Seng added 0.93%.
Across the Malaysian market, 1.62 billion shares worth RM1.64 billion changed hands. Bursa seen the market closed with 468 gainers versus 364 decliners.
Export-driven stocks such as Top Glove Corp Bhd and PIE Industrial Bhd were among the top ten gainers.
The leading decliner was British American Tobacco (M) Bhd.
The most-active stock was APFT Bhd.
Asian share markets rose on Monday, extending last week's gains, as investors awaited a rush of February industry surveys to take the pulse of the global economy, while the sterling stumbled on concerns the UK might yet vote to leave the European Union, according to Reuters.
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