Malaysia's Central Bank Keeps Key Rate at 2.75%
The central bank said prolonged conflict in the Middle East could weigh on growth and inflation as economists expected no change.
- On Thursday, Bank Negara Malaysia maintained its overnight policy rate at 2.75% for the fifth consecutive meeting, matching predictions from all 25 economists in a Bloomberg survey.
- Uncertainties surrounding the duration and severity of the Middle East conflict could weigh on domestic growth and inflation, the central bank indicated, while describing its current policy as appropriate.
- Economic growth in Malaysia eased to 5.3% in the first quarter, with headline and core inflation averaging 1.6% and 2.1% respectively, keeping price pressures relatively muted compared to Southeast Asian peers.
- Since the war in Iran began, elevated oil prices have ballooned the government's fuel subsidy bill tenfold to about $1.79 billion a month, straining fiscal resources.
- Barclays' Brian Tan warned that rising fuel costs may soon force the government to increase RON95 prices, potentially prompting the central bank to reverse last year's rate cut to contain inflation.
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11 Articles
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KUALA LUMPUR, May 8 — The government should urgently channel RM5 billion in interest-free loans and a one-year loan moratorium to help struggling small businesses, Bagan MP Lim Guan Eng said today, arguing that strong banking profits justify broader support for MSMEs.He said Bank Negara Malaysia’s decision to maintain the Overnight Policy Rate (OPR) at 2.75 per cent has helped banks sustain robust earnings, while many micro, small and medium ent…
Ringgit continues growth trajectory after OPR maintained at 2.75%
KUALA LUMPUR: The ringgit extended its gains today, closing firmer against major currencies and most regional peers following Bank Negara Malaysia's (BNM) move to maintain the Overnight Policy Rate (OPR) at 2.75 per cent.
Malaysia currently has sufficient fuel supplies to meet domestic demand by June
Malaysia holds key rate steady, flags risks from Middle East crisis
KUALA LUMPUR, May 7 : Malaysia's central bank on Thursday held its benchmark interest rate steady, warning of risks to domestic growth and inflation from the prolonged conflict in the Middle East.Bank Negara Malaysia maintained its overnight policy rate at 2.75 per cent for the fifth straight policy meeting,
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