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...
Vice President Kamala Harris raised approximately $55 million during high-dollar fundraisers in California over the weekend, bolstering her financial advantage over Republican rival Donald Trump. The fundraising events took place in Los Angeles and San Francisco, with Harris urging attendees to leverage their networks as the race tightens.
On Sunday, Harris’s event at the JW Marriott in downtown Los Angeles brought in $28 million, while Saturday’s fundraiser at San Francisco’s Palace of Fine Arts raised $27 million, according to sources. The Los Angeles gathering featured performances by Alanis Morissette and Halle Bailey, and was attended by celebrities like Sterling K. Brown, Demi Lovato, and Stevie Wonder, along with mogul Jeffrey Katzenberg, co-chair of the Harris campaign.
Harris emphasized the closeness of the race, stating, "We are the underdogs," and encouraged attendees to further activate their networks to ensure a victory in November.
The fundraisers saw ticket prices soar to $926,600, with top donors getting exclusive access, such as photos with the vice president and attendance at a luncheon.
Harris now holds $404 million in campaign funds, compared to $295 million for Trump, giving her a significant financial lead heading into the final weeks of the campaign.
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