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 Ministry of Energy Transition and Water Transformation announced that electricity tariffs in Peninsular Malaysia will remain unchanged from Jan 1 to June 30, 2025.
Key Points
Base Tariff Maintained:
- The government will retain the current base electricity tariff during this period.
Imbalance Cost Pass-Through (ICPT):
- No changes to the current rebate and surcharge rates under the ICPT mechanism.
Impact:
- Ensures stability for households and businesses, avoiding additional financial burdens in the first half of 2025.
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