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...
The FBM KLCI fell 1.49 points or 0.1% despite the steel counters rally. The decline was in line with Asian stock markets that sank on Monday.
As at 5pm today, the KLCI closed at 1,669.5 points. The decline was even worse at 1,665.41 before a slight rebound towards closing. Across Bursa Malaysia, 1.64 billion shares valued at RM1.57 billion were traded. There were 324 gainers and 484 decliners.
Reuters reported that the decline was likely after last week's gain as investors shifted their attention from central banks to the much anticipated US presidential debate.
Today, Japan's Nikkei 225 dipped 1.25% while Hong Kong's Hang Seng fell 1.56%.
For Bursa Malaysia, the top gainer was Hong Leong Bank Bhd while the top decliner was DKSH Holdings (M) Bhd. The most active counter was Hiap Teck Ventures Bhd.
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| FBM KLCI down slightly |
Reuters reported that the decline was likely after last week's gain as investors shifted their attention from central banks to the much anticipated US presidential debate.
Today, Japan's Nikkei 225 dipped 1.25% while Hong Kong's Hang Seng fell 1.56%.
For Bursa Malaysia, the top gainer was Hong Leong Bank Bhd while the top decliner was DKSH Holdings (M) Bhd. The most active counter was Hiap Teck Ventures Bhd.
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