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Update Malaysia keeps overnight policy rate at 3%
by Cals Thu 11 Jul 2013, 20:41
Update Malaysia keeps overnight policy rate at 3%
Business & Markets 2013
Written by Ho Wah Foon of theedgemalaysia.com
Thursday, 11 July 2013 18:09
KUALA LUMPUR (July 11): Bank Negara Malaysia announced that it decided to maintain the overnight policy rate (OPR) at 3.00% at its Monetary Policy Committee (MPC) meeting today.
“The MPC considers the current stance of monetary policy to be appropriate given the outlook for inflation and growth,” said the central bank in a statement.
It noted the global economy continues to experience slow growth and in the advanced economies, growth has remained weak.
For the local economy, domestic demand has continued to support growth but the sustained weakness in the external sector may affect the overall growth momentum, the central bank added.
It also said inflation had remained low at 1.6% in the first five months of the year.
“While inflation is expected to rise in the second half of the year due to domestic supply and cost factors, it is projected to remain modest,” said the central bank.
Business & Markets 2013
Written by Ho Wah Foon of theedgemalaysia.com
Thursday, 11 July 2013 18:09
KUALA LUMPUR (July 11): Bank Negara Malaysia announced that it decided to maintain the overnight policy rate (OPR) at 3.00% at its Monetary Policy Committee (MPC) meeting today.
“The MPC considers the current stance of monetary policy to be appropriate given the outlook for inflation and growth,” said the central bank in a statement.
It noted the global economy continues to experience slow growth and in the advanced economies, growth has remained weak.
For the local economy, domestic demand has continued to support growth but the sustained weakness in the external sector may affect the overall growth momentum, the central bank added.
It also said inflation had remained low at 1.6% in the first five months of the year.
“While inflation is expected to rise in the second half of the year due to domestic supply and cost factors, it is projected to remain modest,” said the central bank.
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