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 (Sept 30): The FBM KLCI was almost unchanged at the end of the trading day at 1,504.82 points, barely 0.92 points higher as the benchmark index bounced back from an intra-day low of 1,497.78 points. Buying interest in Malayan Banking Bhd (Maybank) and Public Bank Bhd lent support to the FBM KLCI. However, most stocks finished the day in the negative zone, with 638 losers against 296 gainers. Trading volume was at 5.64 billion shares worth RM2.64 billion. The earlier strong buying interest appeared to have lost steam, particularly among retail investors, amid lack of fresh catalyst. Inter-Pacific Securities Sdn Bhd head of research Victor Wan commented: “It [market today] is basically very flat.” Leading the gainers today were Nestle (M) Bhd, Greatech Technology Bhd, Ajinomoto (M) Bhd, and Hong Leong Financial Group Bhd. Among the most traded counters were XOX Bhd, which was down 13.3% or two sen at 13 sen, Kanger International Bhd, which shed 14.3% or thre...