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 31): Bursa Malaysia ended at its intraday low on the last trading day of January, echoing the negative performance of regional bourses and poor global market sentiment. At 5pm on Tuesday (Jan 31), the benchmark FBM KLCI had given up 13.89 points or 0.93% to 1,485.50, from Monday's close at 1,499.39. It opened 5.60 points lower at 1,493.79, and moved between 1,485.50 and 1,493.89 throughout the day. Market breadth was negative, with losers thumping gainers 632 to 325, while 389 counters were unchanged, 861 untraded, and 45 others suspended. Turnover shrank to 4.03 billion units worth RM2.78 billion, against Monday's 4.56 billion units worth RM2.44 billion. Commenting on Tuesday's market performance, Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the KLCI closed lower in tandem with the negative performance of regional bourses. “Key regional indices closed lower wi...