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EMERGING MARKETS: Bank Negara Malaysia Decision Due Next Thursday

EMERGING MARKETS
BulletEM BulletEmerging Market News
  • Bank Negara Malaysia is expected to maintain the current policy at 3.00%, where some market observers suggest it may remain for some time.  Q2 GDP Y/y  surprised to the upside in August at 5.9% versus 5.8% prior.  Malaysian exports remain very strong growing 12.3% in July, ahead of its peers in the region. Adding to this, data shows domestic consumption is stable and tourist arrivals growing.  The BNM stated earlier in the year that they expect higher inflation towards the end of 2024 as fuel subsidies are phased out.  They do however expect that inflation will remain manageable.  Foreign investors have been very supportive of the outlook for the economy with equity and bond market flows being very strong throughout 2024.
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  • Bank Negara Malaysia is expected to maintain the current policy at 3.00%, where some market observers suggest it may remain for some time.  Q2 GDP Y/y  surprised to the upside in August at 5.9% versus 5.8% prior.  Malaysian exports remain very strong growing 12.3% in July, ahead of its peers in the region. Adding to this, data shows domestic consumption is stable and tourist arrivals growing.  The BNM stated earlier in the year that they expect higher inflation towards the end of 2024 as fuel subsidies are phased out.  They do however expect that inflation will remain manageable.  Foreign investors have been very supportive of the outlook for the economy with equity and bond market flows being very strong throughout 2024.