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 (Jan 30): Malaysia stocks closed lower today, with the benchmark FBM KLCI falling 1.94 points or 0.1% as investors booked profits after recent sharp gains. The benchmark index flirted briefly in positive territory in the morning session, opening at 1,865.35 points to touch an intra-day high of 1,872.70 points. At 5pm, it pared its early gains to settle at 1,868.58 points. Market breadth was negative as decliners outpaced gainers by 794 to 252, while 388 counters traded unchanged. TA Securities Holdings Bhd technical analyst Stephen Soo told theedgemarkets.com that profit-taking has kicked in, after stellar gains in the past few days. “The index has risen quite sharply in the past few days to its record high in more than three years. The correction is good as the market has been overbought,” Soo said. This is in relation to the overnight retreat in Dow Jones and the reversal of the ringgit strength against the greenback, which have ...