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Asian Economic News

Malaysia Central Bank Leaves Rates Unchanged

By RTTNews Staff Writer   ✉   | Published:   | Follow Us On Google News
rttnewslogo20mar2024

Malaysia's central bank left its key interest rates unchanged on Friday as expected by economists.

The Monetary Policy Committee of Bank Negara Malaysia decided to maintain the overnight policy rate at 3.25 percent.

The bank said the current stance of monetary policy remains accommodative and supportive of economic activity.

The bank observed that the downside risks to growth increased arising from the moderating growth momentum in the major emerging market economies, uncertainty in commodity prices and the heightened volatility in financial markets.

Nonetheless, policymakers expect economic growth to remain within 4.5 percent to 5.5 percent range. Inflation is forecast to peak in early 2016 and to moderate for the remainder of the year.

Despite the weaker ringgit exchange rate, the impact on inflation has been limited by the lower commodity prices and the generally low global inflation.

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