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 (April 8): Bursa Malaysia closed higher on Monday, in tandem with most regional markets spurred by the upbeat momentum on Wall Street last Friday, said an analyst.
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.73 points, or 0.3%, to 1,559.98 from last Friday’s close of 1,555.25. This marked the highest point for the index this year since Feb 27 when it stood at 1,558.8.
The benchmark index opened 1.53 points higher at 1,556.78 and moved between 1,554.15 and 1,560.26 throughout the trading session.
On the broader market, gainers led decliners 531 to 511, with 502 counters unchanged, 787 untraded and nine others suspended.
Turnover declined to 3.97 billion units worth RM2.33 billion compared with 4.04 billion units valued at RM2.68 billion last Friday.
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the FBM KLCI ended marginally higher, in tandem with the positive performance across the region.
"Investors' focus will soon shift to the US March inflation data, due this week,” he told Bernama.
Thong also said that despite the cautious sentiment, he believed that interest in Malaysian equities will remain favourable, given their cheap valuations and improving corporate earnings.
“Nonetheless, in the short term, the benchmark index will be stuck in a consolidation mode due to cautious trading, For the week, we reckon trading will be muted in conjunction with the Hari Raya Aidilfitri holidays and anticipate that the FBM KLCI will trend within the range of 1,537-1,570,” he said.
Source: The Edge
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