Malaysian central bank holds rates while Indonesia hikes again

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Bank Negara Malaysia

Malaysia’s central bank unexpectedly kept its benchmark interest rate unchanged at 2.75% today (January 19), while Indonesia’s raised its rate by 25 basis points.

Bank Negara Malaysia said the decision allows it to assess the impact of its previous four consecutive 25bp hikes. BNM’s nine-member monetary policy committee, chaired by governor Nor Shamsiah, cited the “lag effects” of monetary policy.

All but one of 27 economists polled by Reuters before the decision had expected the bank to raise

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