Malaysia's central bank again keeps overnight interest rate at 3%

By Jennifer Chiou

New York, Jan. 29 - The Monetary Policy Committee of Bank Negara Malaysia, Malaysia's central bank, announced that it has once more decided to keep its overnight policy rate unchanged at 3% as the global economy continues to expand at a moderate pace.

The committee said that in the major advanced economies, broader signs of improvement have emerged.

According to a committee release, the Asian economies have continued to experience sustained growth, although growth in domestic demand in some economies is showing signs of moderation.

The release added that in recent weeks, shifts in global liquidity have resulted in increased volatility and uncertainties in the international financial markets.

Looking ahead, global growth will be supported by the emerging economies and the recovery in the advanced economies. Nevertheless, global economic and financial conditions remain vulnerable to shifts in sentiments and heightened volatility in the international financial markets, the release noted.

For the Malaysian economy, indicators suggest that the economy registered sustained performance in the fourth quarter of 2013.

Improvements in exports have supported economic growth during the quarter while domestic demand remained firm, the committee said.

Inflation rose to 3.2% in December 2013 to average 2.1% for the year as a whole.

© 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.