Malaysia's central bank maintains 3% interest rate amid low inflation, export recovery, and phasing out fuel subsidies.
Malaysia's central bank, Bank Negara Malaysia, maintained its benchmark interest rate at 3% amid low inflation and ongoing measures to bolster the ringgit. The recovery in exports is expected to strengthen, supported by the global technology upcycle and increasing tourist arrivals and spending. The central bank plans to phase out blanket fuel subsidies this year, potentially stoking price pressures, but the exact impact is unclear, leading to a wide inflation forecast range of 2-3.5% for 2024.
May 09, 2024
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