Economists view the decision by Bank Negara Malaysia’s Monetary Policy Committee to retain the Overnight Policy Rate at its record low of 1.75% as an indication that there has been sufficient action taken to accommodate the economy.
Socio-Economic Research Centre executive director Lee Heng Guie said the MPC meeting outcome underscores the improvement in the Malaysian economy from its earlier trough in the second quarter which saw a 17.1% year-on-year contraction in gross domestic product . “If everything goes swimmingly, as it appears to, in the coming months, it would hold its rate unchanged again at 1.75%, in the next and last MPC meeting for the year in November,” he said in a report.
“Casting their gaze further out, the statement notes that ‘improvement is expected to continue into 2021, supported by the recovery in external demand and expansion in private sector expenditure’,” the economist said in a report. Under that analogy, he said that the checkups will continue routinely from here, however, and if there is any indication that the patient’s conditions have turned for the worse, either because of unfavourable internal changes or unhelpful external conditions, the doctor would not hesitate to prescribe something stronger.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bank Negara Malaysia to keep policy rate unchanged: Standard CharteredPETALING JAYA: Standard Chartered Global Research anticipates Bank Negara Malaysia (BNM) to maintain the Overnight Policy Rate (OPR) at 1.75% in Thurs...
Source: theSundaily - 🏆 25. / 51 Read more »
Ringgit higher at opening ahead of Bank Negara’s policy meetingLocal traders will likely hit the pause button ahead of the rates decision. FMTNews BNM
Source: fmtoday - 🏆 5. / 72 Read more »
Bank Rakyat: Contact bank immediately if need help after moratorium | Malay MailKUALA LUMPUR, Sept 9 — Bank Rakyat has urged customers who may face difficulties in continuing with their loan repayments once the moratorium ends on September 30 to immediately contact the bank. Borrowers who intend to apply for assistance can contact the bank via three channels, namely email to...
Source: malaymail - 🏆 1. / 86 Read more »
Bank Rakyat: Contact bank immediately if need help after moratoriumKUALA LUMPUR: Bank Rakyat has urged customers who may face difficulties in continuing with their loan repayments once the moratorium ends on September...
Source: theSundaily - 🏆 25. / 51 Read more »
Bank Negara, Penang to hold two-day event on post-moratorium loan repayment assistance | Malay MailGEORGE TOWN, Sept 9 — Bank Negara Malaysia’s Penang branch, in collaboration with the state government, will be holding a two-day event to assist individuals and entrepreneurs in planning their loan repayment after the moratorium ends on September 30. Trade, Industry and Entrepreneurial...
Source: malaymail - 🏆 1. / 86 Read more »
S.Korea Aug bank lending to households posts biggest jump on recordSEOUL: South Korea's bank lending to households in August surged by the biggest monthly amount on record, led by mortgage borrowing and credit loans f...
Source: theSundaily - 🏆 25. / 51 Read more »