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...
KUALA LUMPUR, Nov 29 (Bernama) -- Bursa Malaysia’s main index failed to sustain the brief gains observed in the mid-afternoon session to end the day in the red, as selling in selected heavyweights mainly in utility and logistics counters intensified in the final hour of trading. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slid 3.20 points or 0.20 per cent to 1,594.29 from Thursday’s close of 1,597.49. The index opened 1.13 points lower at 1,596.36 and moved between 1,586.39 and 1,603.59 today. Decliners beat gainers 539 to 515 while 461 counters were unchanged, 945 untraded, and 56 suspended. Turnover expanded to 3.43 billion units valued at RM3.19 billion versus 2.79 billion units valued at RM2.90 billion yesterday. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said some sectors staged a rebound, with banking, plantation, construction, telco and consumer stocks driving gains...