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Malaysia's 'growth likely to remain resilient' - Nomura
by Cals Tue 12 Apr 2016, 01:31
Malaysia's 'growth likely to remain resilient' - Nomura
By Christina Ramani / theedgemarkets.com | April 11, 2016 : 3:00 PM MYTKUALA LUMPUR (April 11): Malaysia's latest industrial production data continues to suggest that the country's economic activity is holding up, despite external headwinds, according to Nomura.
Nomura said this in a note today, after Malaysia's Statistics Department said the nation's industrial production index (IPI) rose 3.9% in February from a year earlier, with strong electricity output as one of the contributing factors.
The Statistics Department said electricity output grew 10.5%, while the mining and manufacturing segments strengthened 1.1% and 4.5% respectively.
Nomura said today that the research firm had recently raised its Malaysia 2016 gross domestic product (GDP) growth forecast from 4% to 4.3%. The country's GDP grew 5% in 2015.
“With growth likely to remain resilient, we continue to expect Bank Negara Malaysia to leave its policy rate unchanged through 2016,” Nomura said.
Last month, Bank Negara said its monetary policy committee had maintained the overnight policy rate (OPR) at 3.25%
At the current OPR, Bank Negara said its monetary policy stance was accommodative and supportive of economic activity.
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