Bank Negara Malaysia: Keep interest rates unchanged at 3%

Gelonghui, May 9 | Bank Negara Malaysia announced that it will continue to maintain the benchmark interest rate unchanged at 3%, in line with market expectations

Gelonghui, May 9 | Bank Negara Malaysia announced that it will continue to maintain the benchmark interest rate unchanged at 3%, which is consistent with market expectations.
The central bank said that the latest indicators show that economic activity will increase in the first quarter of this year, mainly due to the restorative growth of domestic spending and the positive improvement of exports.
Export recovery is expected to strengthen, supported by the global technology recovery and continued strength in non-electrical and electronic products.
The central bank reiterated that the ringgit\’s weak performance does not reflect Malaysia\’s economic fundamentals and growth prospects.
The central bank expects inflation to remain moderate in 2024. The overall inflation rate ranges from 2% to 3.5%, roughly reflecting stable demand conditions and controllable cost pressures.
Malaysia’s inflation rate last year was 2.5%.

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