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 (Aug 30): Bursa Malaysia rose 0.7% to end at an intraday high on Tuesday (Aug 30), rebounding from earlier losses on persistent buying interest in heavyweight stocks, said a dealer. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 10.48 points to 1,512.05, from Monday’s close of 1,501.57. The benchmark index opened 0.79 of a point easier at 1,500.78 on Tuesday morning, hitting a low of 1,496.8 in early trading. On the broader market, gainers led decliners 453 to 405, while 425 counters were unchanged, 1,049 untraded, and 53 others suspended. Total turnover rose to 2.86 billion units worth RM2.72 billion from 1.94 billion units worth RM1.59 billion on Monday. Bursa Malaysia opened easier and continued to trade mostly in negative territory, with profit-taking seen in selected heavyweight stocks, bucking Asian equities which were mostly higher in the morning session on Tuesday. However, the local bourse rebounded at mid-afternoon to end the day on a firm note, l...