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 (June 1): The FBM KLCI gained 15.76 points or 0.9% as bargain hunting extended the index's recovery following recent substantial losses. At 5pm today, the KLCI closed at 1,756.38 points.
The KLCI extended its recovery today after yesterday's (Thursday) 21.34-point rise to 1,740.62 points. On Wednesday, the index fell 56.56 points to 1,719.28 points.
Today, TA Securities Holdings Bhd senior analyst Stephen Soo told theedgemarkets.com: "The follow-through from yesterday looks quite strong."
Across Bursa Malaysia today, trading volume stood at 2.88 billion shares valued at RM2.79 billion. Today's trading volume and value were down from yesterday's hefty 4.61 billion shares valued at a record high of RM9.27 billion.
Today's top gainers included KLCI-linked stocks Malayan Banking Bhd and MISC Bhd.
The most-active stocks included Sapura Energy Bhd and Opcom Holdings Bhd.
Source: The Edge
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