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Malaysia's central bank holds firm on interest rates

  • Regular
  • Asian Market
  • 1 week ago
  • 11

Malaysia’s central bank has held its interest rates for a second consecutive time as the economy continues to grow at a steady pace despite the threats of global trade tensions.

Bank Negara Malaysia kept rates at 3% in a show of support for the growing economy, “Domestic drivers of growth, alongside stable labor market and wage growth, are expected to remain supportive of economic activity.”

“On the external front, Malaysia’s diversified exports will partly mitigate the impact of softening global demand.”

The bank kept its growth projection for this year unchanged at 4.3%-4.8%, however it stressed that is still vulnerable to “further downside risks from worsening trade tensions” and other global uncertainties.

 

 

Source: Smart Trend Team