KUALA LUMPUR, July 7 — The Covid-19 pandemic resurgence has weighed on the central bank’s decision to lower the overnight policy rate (OPR) today as it casts a dark cloud over the global economic outlook for the second half (H2) of this year. OCBC Bank economist Wellian Wiranto said while Bank...
OCBC bank economist Wellian Wiranto said while Bank Negara Malaysia appeared to be heartened by the recovery in economic activities since early May, it repeatedly highlighted the continued spectre of downside risks. — Reuters pic
“It pointed out the risk of a pandemic resurgence that might bring about the reintroduction of containment measures,” he said. Wiranto said coming at a time when global markets are increasingly contending with the prospect of more lockdowns — with news about Melbourne imposing a six-week lockdown, BNM’s warning would appear to be all the more ominous.
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