Bank Negara Malaysia Monetary Policy Not Changed

April 29, 2009

Malaysia’s overnight policy rate will remain at 2.0%, and a statement released by monetary officials opined that policy is now sufficiently accommodative to avoid further rate reductions.  GDP likely contracted last quarter but will do better in 2H09.  Inflation is down to 3.5% and projected to moderate additionally.  The OPR was cut by 25 basis points in November, 75 bps in January and 50 bps in February.  The next scheduled meeting of the monetary policy committee is on May 26th.

Copyright 2009 Larry Greenberg.

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