KUALA LUMPUR, Jan 22 — Bank Negara Malaysia’s (BNM) Monetary Policy Committee (MPC) has decided to maintain the Overnight Policy Rate (OPR) at 3.0 per cent during its meeting...
While financial markets could experience bouts of volatility due to global policy uncertainties, BNM said Malaysia’s favourable economic prospects and domestic structural reforms, complemented by ongoing initiatives to encourage flows, would continue to provide enduring support to the ringgit. — Picture by Hari Anggaraas a first-time user .
“Global trade is expected to remain broadly sustained, supported by the continued tech upcycle,” it said in a statement today. “Moving forward, the strength in economic activity is expected to be sustained in 2025, driven by resilient domestic expenditure. Employment and wage growth, as well as policy measures, including the upward revision of the minimum wage and civil servant salaries, will support household spending,” BNM said.
“Exports are expected to be supported by the global tech upcycle, continued growth in non-electrical and electronics goods and higher tourist spending. “Global commodity prices are expected to continue to trend lower, contributing to moderate cost conditions in the near term. “The ringgit’s performance continues to be primarily driven by external factors. The narrowing interest rate differentials between Malaysia and the advanced economies is positive for the ringgit,” it said.
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