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...
KUALA LUMPUR (Feb 14): The FBM KLCI declined marginally today but stayed above the 1,700 psychological level the entire day, as market sentiment remained bullish after the rally in the previous two trading days. The benchmark index settled at 1,708.90, down 1.34 points or 0.08% from yesterday, after moving between 1,703.59 and 1,710.08. Interpacific Securities Sdn Bhd’s senior remisier Sam Ng said the market’s overall trading behaviour today was stable. “The price behaviour remains resilient today. The KLCI trend seems stable, as bullish sentiment in the past has attracted some investors to enter the market,” he told theedgemarkets.com. Across the board, there were 2.18 billion shares traded, worth some RM2.56 billion. A total of 387 stocks gained, 470 counters fell, while 387 stocks finished unchanged. The biggest loser was KESM Industries Bhd, while the top gainer was British American Tobacco (M) Bhd. Sterling Progress Bhd was the day’s most actively-traded cou...