Bloomberg writer: Putrajaya skirting deflation issue with 2008 talk
On Sunday, Finance Minister Lim Guan Eng used the Global Financial Crisis as a comparison point to assure Malaysians the country was not entering a similar recession. — Picture by Yusof Mat
Former Bloomberg executive editor Daniel Moss said this would prevent the necessary attention on the issue. He added that a collapse the magnitude of the 2008/09 crisis was not the problem at hand, but rather pervasive low inflation across the region and the globe. Among others, he said Bank Negara Malaysia would be forced to cut interest rates at the earliest opportunity as the country’s economy was not large enough to either influence global trade or isolate itself from the region’s contagion.
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