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...
Bursa Malaysia Bhd (KL), the stock exchange operator, reported a 5.5% rise in net profit for the second quarter, driven by increased income from the securities market.
For the quarter ended June 30, 2024 (2QFY2024), Bursa Malaysia recorded a net profit of RM80.45 million, up from RM76.25 million in the same period last year. The company’s revenue for the quarter saw a significant 28% year-on-year increase, reaching RM199.94 million compared to RM144.6 million.
“The exchange is optimistic” about achieving its financial targets for the year ending 2024 (FY2024), the company stated in an exchange filing.
Bursa Malaysia declared an interim dividend of 18 sen per share, an increase from 15 sen per share in 2QFY2023.
Key Takeaways:
- Net profit for 2QFY2024 rose 5.5% to RM80.45 million.
- Revenue increased by 28% year-on-year to RM199.94 million.
- Bursa Malaysia is confident in meeting its FY2024 financial targets.
- Interim dividend declared at 18 sen per share, up from 15 sen per share in 2QFY2023.
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