Malaysia holds policy rate
Decision comes after country posts 5.9% year-on-year growth in Q2 and currency rebounds
Malaysia’s central bank kept its overnight policy rate at 3% for the eighth consecutive meeting today (September 5), amid low inflation and strong growth figures.
“At the current overnight policy rate level, the monetary policy stance remains supportive of the economy and is consistent with the current assessment of inflation and growth prospects,” the Bank Negara Malaysia (BNM) said in its monetary policy statement.
The bank had raised the rate by 125 basis points between May 2022 and May 2023
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