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MNI BRIEF: Malaysia Growth Seen At 6-7.5% In 2021:Central Bank

BEIJING (MNI)

The Malaysian economy is expected to rebound to 6-7.5% growth in 2021, a swing from the 5.6% decline in 2020, Bank Negara Malaysia (BNM) Governor Nor Shamsiah Yunus said Wednesday, adding that inflation pressures were supply driven and not excessive and there would be no policy response as long as there are no secondary effects.

Headline inflation may peak in Q2 and average higher in the 2.5-4% range after the 1.2% fall last year while core inflation may remain subdued at 0.5-1.5%, the bank said in a virtual press briefing.

BNM also said it will remove an exchange conversion rule and allow resident exporters to settle domestic trades in foreign currency with other residents involved in the global supply chain from mid-April.

MNI Singapore Bureau | +65 9 632 1991 | sumathi.vaidyanathan.ext@marketnews.com
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MNI Singapore Bureau | +65 9 632 1991 | sumathi.vaidyanathan.ext@marketnews.com
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