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 (April 30): The FBM KLCI closed up 27.48 points or 1.99% at 1,407.78 today after broad-based buying lifted share prices across Bursa Malaysia as global investors cheered encouraging early results of a Covid-19 treatment trial. In Malaysia, analysts and remisiers said, local shares also appeared to take their cue from International Trade and Industry Minister Datuk Seri Mohamed Azmin Ali’s statement on Tuesday that realising the urgent need to tackle the current economic crisis, the government had agreed that the economic sectors that were allowed to operate during phases one, two and three of the movement control order (MCO) period be allowed to raise their operational capacity to the fullest and operate without time limits effective yesterday. Maybank Investment Bank Bhd remisier Jeffry Azizi Jaafar told theedgemarkets.com : "More businesses have been allowed to operate at full capacity, which creates a positive perception that th...