Free Trial

MNI BNM Preview - May 2023: No Change Likely

EXECUTIVE SUMMARY

  • On balance, we don’t feel that BNM needs to rush to resume the tightening cycle. Inflation pressures have cooled further, while external headwinds are starting to weigh on export growth.
  • Moreover, ahead of the next policy meeting in early July, BNM will get a further two inflation updates, along with Q1 GDP. The external backdrop may also be clearer by that stage as well.
  • This leaves us expecting no change at tomorrow's BNM policy meeting, which is also where the consensus also sits.
  • Full preview is here:
  • BNM Preview - May 2023.pdf


To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.