Unchanged Monetary Policy in Malaysia
January 31, 2012
It’s been already 8 months since the last of four Malaysian post-Great Recession interest rate hikes. The Monetary Policy Committee at Bank Negara Malaysia again left its overnight policy benchmark at 3.0%. The committee’s next two meetings are scheduled for March 9 and May 3. A statement released today after the first meeting of 2012 speaks of a more challenging global environment and projects moderating CPI inflation during 2012 because of lessening cost push pressure and stable domestic demand conditions. CPI inflation last year averaged 3.2% in Malaysia. Aside from the aforementioned rate previous rate hike in May 2011, officials also increased their policy rate in March 2010, May 2010, and July 2010. All four moves were by 25 basis points.
Copyright 2012, Larry Greenberg. All rights reserved. No secondary distribution without express permission.
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