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 9): The FBM KLCI ended up 6.55 points or 0.41% today at 1,595.65 with Asian shares as fears over a further escalation in Iran-US hostility subsided.
Reuters reported that US President Donald Trump responded to an Iranian attack on US forces with sanctions, not violence. It was reported that Iran offered no immediate signal it would retaliate further over a Jan 3 US strike that killed a senior military commander.
In Malaysia today, Rakuten Trade Sdn Bhd research vice president Vincent Lau told theedgemarkets.com the temporary de-escalation in the tension between the US and Iran in the Middle East contributed to more positive investor sentiment.
"The cool-down in US-Iran tensions contributed to today's (KLCI) rise, which was in line with key regional markets," said Lau.
Across Bursa Malaysia, 2.83 billion shares worth RM1.89 billion were
traded today. A total of 601 counters gained versus 254 decliners.
Top gainers included Hong Leong Financial Group Bhd and Kuala Lumpur Kepong Bhd. Leading decliners included Petronas Chemicals Bhd and Tomei Consolidated Bhd.
Across Asian stock markets, Japan's Nikkei 225 closed up 2.31% while South Korea's Kospi rose 1.63%.
In China, the Shanghai Stock Exchange Composite closed 0.91% higher while Hong Kong's Hang Seng added 1.68%.
Source: The Edge
Top gainers included Hong Leong Financial Group Bhd and Kuala Lumpur Kepong Bhd. Leading decliners included Petronas Chemicals Bhd and Tomei Consolidated Bhd.
Across Asian stock markets, Japan's Nikkei 225 closed up 2.31% while South Korea's Kospi rose 1.63%.
In China, the Shanghai Stock Exchange Composite closed 0.91% higher while Hong Kong's Hang Seng added 1.68%.
Source: The Edge
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