Malaysian central bank holds rate
Monetary authority and government working together to encourage inflows to shore up currency
Malaysia’s central bank held its policy rate at 3% today (March 7) for the fifth straight meeting, amid subdued inflation and a weak currency.
In a statement, Bank Negara Malaysia (BNM) said the current rate remained supportive of the economy, while being consistent with the outlook for inflation and economic growth.
The bank raised the rate by a total of 125 basis points between May 2022 and May 2023.
It said it expected inflation in 2024 to remain moderate, reflecting “stable demand conditions
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