Bank Negara Malaysia
May 19, 2016
Malaysia’s monetary policy rate was left at 3.25% as expected. It’s been at 3.25% since a 25-basis point increase in July 2014. There was also 75 basis points of tightening in 2010 and a fourth 25-bp hike in May 2011. A released statement today concluded, “at the current level of the OPR, the stance of monetary policy is accommodative and supportive of economic activity. The MPC recognises that there are downside risks in the global economic and financial environment and is closely monitoring and assessing their implications on domestic price stability and growth. This is to ensure that the monetary policy stance is consistent with sustainable growth of the Malaysian economy.” Officials expect 4-4.5% growth this year and downwardly trending CPI inflation from the current 3.4% pace. The next policy meeting will be on July 13.
Copyright 2016, Larry Greenberg. All rights reserved. No secondary distribution without express permission.
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