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...
BlackRock has become a substantial shareholder of Singapore Exchange (SGX) after purchasing 18,800 shares from the market. The shares were bought on July 26 for S$182,042.28, or S$9.68 per share.
Following this acquisition, BlackRock’s stake in SGX has increased to 5% from the previous 4.99%. Shareholders who cross the 5% stake threshold are required to disclose their interest on SGX.
Shares in SGX closed five cents, or 0.51%, lower at S$9.67 on Tuesday.
Key Takeaways:
- BlackRock has increased its stake in SGX to 5% after buying 18,800 shares.
- The purchase was made on July 26 at S$9.68 per share.
- BlackRock’s increased stake requires disclosure as it crosses the 5% threshold.
- SGX shares closed at S$9.67, down 0.51% on Tuesday.
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