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 FTSE Singapore Straits Times Index experienced mixed movements on Friday, Dec 20, 2024, with notable performances from various sectors.
Key Market Highlights
Top Movers on STI
- Top Gainer:
- Singtel (Z74.SG):
- +0.65% to close at S$3.12.
- Top Loser:
- JMH USD (J36.SG):
- -2.33% to end at S$40.23.
REIT Movers
- Top Gainer:
- BHG Retail REIT (BMGU.SG):
- +12.5% to close at S$0.45.
- Top Loser:
- DigiCore REIT USD (DCRU.SG):
- -3.36% to end at S$0.575.
Most Actively Traded Stock
- DBS (D05.SG):
- Declined 1.34% to close at S$42.82.
- Recorded a turnover of S$214.58 million.
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