Bank Negara Malaysia holds rates steady as expected, says economy is growing strong and inflation is under control

Bank Negara Malaysia keeps interest rates unchanged at 3.00% as economy grows strong and inflation is under target

On January 22, 2568, Nikkei Asia reported that Bank Negara Malaysia (BNM) kept its benchmark interest rate unchanged at its first policy meeting of the year. Citing strong economic growth and continued under-control inflation

BNM kept the overnight policy rate unchanged at 3.00% since May 2566, in line with market expectations that rates will remain unchanged until at least the end of 2568.

BNM stated in a statement that The monetary policy stance remains supportive of economic growth and is consistent with current inflation and growth trends. Economic activity is expected to remain strong in 2568, driven by resilient domestic spending.

Malaysian Economy It is expected to grow by 5.1% in 2567, up from 3.6% in 2566, and within the government's forecast range of 4.8% to 5.3%, according to preliminary estimates from Statistics Malaysia, which said. Gross domestic product (GDP) is expected to grow by 4.8% year-on-year in the fourth quarter of 4, slightly slower than the previous quarter's 2567% growth.

For 2568, both BNM and the government forecast economic growth in the range of 4.5% to 5.5%.

This BNM expected Inflation is expected to remain manageable in 2568, supported by accommodative global cost conditions and the absence of significant pressures on domestic demand.

refer : asia.nikkei.com

Read news related to All ASEAN economic situations can be found here.