His was a life of dedicated service and song.
KUALA LUMPUR: Bank Negara kept the overnight policy rate unchanged at 3% after concluding its two-day Monetary Policy Committee meeting, a decision widely anticipated by economists.
“The MPC remains vigilant to ongoing developments to inform the assessment on the domestic inflation and growth trajectories. The MPC will ensure that the monetary policy stance remains conducive to sustainable economic growth amid price stability,” Bank Negara said in a statement. However, the growth outlook remains vulnerable to downside risks, including the potential escalation of geopolitical tensions, higher-than-expected inflation, and volatility in global financial markets.For the Malaysian economy, Bank Negara said the latest indicators point towards sustained strength in economic activity in the second quarter of 2024, driven by resilient domestic expenditure and better export performance.
The growth outlook is subject to downside risks from weaker-than-expected external demand and larger declines in commodity production. Going forward, the upside risk to inflation would be dependent on the extent of spillover effects of further domestic policy measures on subsidies and price controls to broader price trends, as well as global commodity prices and financial market developments.
Bank Negara OPR Monetary Policy Overnight Policy Rate Inflation Economy
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