Malaysia sees inflationary pressures easing, leaves overnight rate unchanged at 3.5%

By Richard Connell

New York, Oct. 24 - The Monetary Policy Committee of the Bank Negara Malaysia left its Overnight Policy Rate unchanged at 3.5% at its meeting Friday, according to a press release.

The committee assessed that inflation has peaked and is expected to moderate into 2009, based on lowering cost pressures and moderating domestic demand.

The committee of the Malaysian central bank also noted that despite the ongoing turmoil in the international financial markets, domestic banking institutions have been operating with strong capital and continued to provide financing to the Malaysian economy.

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