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BNM: On Hold for the Ninth Successive Meeting. 

BNM
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  • Malaysia’s Central Bank Negara (“BNM”) kept rates on hold on Wednesday at 3.0% as we expected.
  • BNM expects the global economy to continue to expand amid resilient labour market conditions, a recovery in global trade, moderating inflation and less restrictive monetary policies.
  • Domestically the BNM pointed to sustained economic activity underpinned by resilient domestic consumption, strong domestic exports supported by the country’s focus on the tech sector and increased tourism.
  • Headline and core inflation are moderate averaging +1.8% and remains manageable and dominated by domestic policies, however global commodity prices and financial market developments must be considered.
  • BNM noted that the recent performance of the Ringgit was externally driven and that over time the economic prospects for Malaysia will re-exert themselves as the driver for the currency.
  • This was the last meeting for the year with the board believing that the current level of rates remains supportive, and consistent with the growth and inflation outlook. 
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  • Malaysia’s Central Bank Negara (“BNM”) kept rates on hold on Wednesday at 3.0% as we expected.
  • BNM expects the global economy to continue to expand amid resilient labour market conditions, a recovery in global trade, moderating inflation and less restrictive monetary policies.
  • Domestically the BNM pointed to sustained economic activity underpinned by resilient domestic consumption, strong domestic exports supported by the country’s focus on the tech sector and increased tourism.
  • Headline and core inflation are moderate averaging +1.8% and remains manageable and dominated by domestic policies, however global commodity prices and financial market developments must be considered.
  • BNM noted that the recent performance of the Ringgit was externally driven and that over time the economic prospects for Malaysia will re-exert themselves as the driver for the currency.
  • This was the last meeting for the year with the board believing that the current level of rates remains supportive, and consistent with the growth and inflation outlook.