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...
Market Daily Report: Bursa Malaysia dips slightly on last trading day of third quarter, with key index down
KUALA LUMPUR (Sept 30): Bursa Malaysia ended the last trading day of the third quarter of the year on a slight dip, after roller-coaster trading all day long. At 5pm on Friday (Sept 30), the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) slipped 2.87 points or 0.21% to settle at 1,394.63, from Thursday’s close of 1,397.50. The benchmark index opened 2.21 points easier at 1,395.29 and subsequently moved between 1,390.41 and 1,402.23 throughout the day. On the broader market, decliners outpaced gainers 462 to 358, while 408 counters were unchanged, 1,155 untraded, and 37 others suspended. Total turnover decreased to 2.08 billion units worth RM1.91 billion, from 2.28 billion units worth RM1.86 billion on Thursday. Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the near term market sentiment remains jittery due to unce...