Malaysia's central bank maintains overnight interest rate at 3%

By Tali David

Minneapolis, May 11 - The Monetary Policy Committee of Bank Negara Malaysia, Malaysia's central bank, kept its overnight policy rate at 3% at its meeting on Friday, according to a statement from the bank.

The committee said the global economy continues to recover, but developments in the most recent period have increased the risks to global growth.

Domestically, demand has continued to support growth, driven by firm consumption and investment activity. The committee said that private consumption is supported by the stable employment conditions, income growth and public sector measures.

Headline inflation is expected to moderate in 2012 with improved domestic supply and stable demand conditions, the statement said.

The committee's overall assessment is that continued uncertainties remain emanating from the global economic and financial environment.

The committee said it will continue to carefully assess these evolving conditions and their implications on the overall outlook for inflation and growth of the Malaysian economy.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.