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MNI BRIEF: Malaysia's 2021 GDP Clocks 3.1%, Policy Stays Easy

MNI (Sydney)
SYDNEY (MNI)

Malaysia’s economy grew by 3.6% in the last quarter of 2021 for an annualised pace of 3.1%, with the economy turning positive in October as a recovery from pandemic curbs gathered pace, but not enough to change the current monetary policy stance.

Releasing the results on Friday, Bank Negara Malaysia Governor Tan Sri Nor Shamsiah Mohd Yunus said that while the outlook was more positive and the economy is on a "recovery path" there were still many uncertainties and monetary policy needed to remain accommodative, see: MNI STATE OF PLAY: Bank Negara Malaysia Stays Cautious On Econ.

The central bank will publish its 2022 economic forecasts next month, and its next Monetary Policy Statement is due on March 3. BNM’s Overnight Policy Rate has been unchanged at a record low of 1.75% since the last cut in July 2020.

MNI Sydney Bureau | +61-405-322-399 | lachlan.colquhoun.ext@marketnews.com
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MNI Sydney Bureau | +61-405-322-399 | lachlan.colquhoun.ext@marketnews.com
Policy NewsHomepageAPACBriefStoryRegion

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