Malaysia keeps rate at 3% amid economic strength, moderate inflation

By Susanna Moon

Chicago, Sept. 7 – Bank Negara Malaysia’s monetary policy committee again decided to hold the overnight policy rate at 3% on Thursday.

The bank considered factors that suggest sustained momentum in growth worldwide, countered by political developments and geopolitical risks, according to a statement.

“The global economy continues to strengthen with growth becoming more entrenched and synchronized across countries,” according to the bank statement.

Meanwhile, headline inflation continued to moderate as it fell to 3.2% in July, due to the drop in domestic fuel prices.

Core inflation is expected to remain contained, the bank noted.

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