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...
Gapping Up: NIO Inc (NIO.US) : Stock surged 14.4% after the Chinese electric vehicle manufacturer announced a significant $2 billion cash boost from existing shareholders. CVS Health (CVS.US) : Stock increased by 3.2% following reports that Glenview Capital , a major shareholder, is set to discuss potential business improvements with CVS's management. AT&T (T.US) : Stock rose by 1.1% after revealing plans to sell a 70% stake in DirecTV to TPG , a private equity firm, for $7.6 billion . Autodesk (ADSK.US) : Stock climbed 0.8% after Morgan Stanley upgraded the software company to "top pick," highlighting expected accelerations in EPS and revenue growth alongside its appealing valuation. Gapping Down: Stellantis NV (STLA.US) : Stock plummeted 13.4% after the auto giant cut its annual forecasts and announced higher-than-anticipated cash burn, citing worsening industry trends and costly overhauls of its U.S. operations amid intensifying competition from Chinese...