Malaysia's central bank maintains 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 again opted to keep its overnight policy rate unchanged at 3% as the latest indicators suggest that the domestic economy continued to register favorable performance in the first quarter.

The committee said that global growth moderated in the first quarter with several key economies affected by weather-related and policy-induced factors.

According to a committee release, the global economy is expected to remain on a path of gradual recovery. In Asia, the better external environment provides further support to growth amid continued expansion in domestic demand.

For Malaysia, growth will remain anchored by domestic demand with additional support from the improved external environment, the bank said. Exports will continue to benefit from the recovery in the advanced economies and regional demand.

The committee noted that inflation has stabilized in recent months amid the more favorable weather conditions and as the impact of the price adjustments for utilities and energy moderate.

© 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.