KL passes new Bank Negara act
The Malaysian government on Wednesday passed a new Central Bank Act, replacing legislation which was more than 50 years old.
The act provides greater clarity on Bank Negara Malaysia's mandate, defining the central bank's principal role as the "promotion of monetary stability and financial stability conducive to the sustainable growth of the Malaysian economy."
The primary objective of monetary policy is to" maintain price stability while giving due regard to developments in the economy." The act
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