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...
The Selangor government plans to build 60,000 affordable housing units under the Rumah Idaman initiative by 2027, according to Menteri Besar Datuk Seri Amirudin Shari. He stated that the construction momentum is progressing well, with 40,000 units currently awaiting planning and building permissions, and 10,000 units already under construction.
Amirudin shared these updates during the Rumah Idaman, Putra Idaman, and Saujana Idaman groundbreaking ceremony. The Rumah Idaman initiative is designed to meet the increasing demand for affordable homes, particularly for Malaysians in the bottom 40% (B40) and middle 40% (M40) income groups, catering primarily to first-home buyers and small families.
The Putra Idaman project, a collaboration between Oriental Interest Bhd (OIB) and Permodalan Negeri Selangor Bhd (PNSB), will feature 502 semi-furnished units across two apartment blocks, each priced at RM250,000. Completion is expected in 2028, with units designed to be spacious and include air conditioning as part of the package.
Comments
Post a Comment