Malaysia's central bank maintains 3% overnight policy rate amid fuel subsidy removal plans.
Malaysia's central bank, Bank Negara Malaysia (BNM), maintains the overnight policy rate at 3%, despite plans to remove fuel subsidies to reduce the budget deficit. The central bank expects manageable inflation rise in the second half of 2024 due to subsidy changes and anticipates the economy to remain resilient, driven by domestic consumption, export performance, tourism, and investment.
July 11, 2024
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