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KUALA LUMPUR: Bank Negara kept the overnight policy rate unchanged at 3%, as widely expected, noting that this level supports Malaysia's economy and aligns with its assessment of inflation and growth prospects.
Looking forward, global growth is expected to be sustained by strong labour market conditions, moderating inflation, and less restrictive monetary policies. Meanwhile, Bank Negara said employment and wage growth, as well as policy measures, remain supportive of household spending. Meanwhile, upside risks to growth mainly emanate from greater spillover from the tech upcycle, more robust tourism activity, and faster implementation of investment projects.
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