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 (March 29): Bursa Malaysia closed marginally higher on Friday, hitting an intraday high as bargain-hunting activities emerged following a few lacklustre trading sessions earlier. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) gained 5.47 points to 1,536.07 from Wednesday’s (March 27) close of 1,530.6. The benchmark index opened 1.51 points higher at 1,532.11 and moved between 1,532.03 and 1,542 throughout the day. On the broader market, gainers outpaced losers 516 to 469, while 502 counters were unchanged, 833 untraded, and 55 others suspended. Turnover narrowed to 3.06 billion units worth RM2.59 billion from 3.75 billion units worth RM3.1 billion on Wednesday. Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng said investors are still staying cautious despite some improvement in market sentiment. “Recognising that investors’ expectations fluctuate over time. We expect the benchmark index to remain in its sideways patt...