Malaysian central bank holds policy rate

BNM’s efforts to support the ringgit are paying off, deputy governor says

bank-negara-malaysia

Malaysia’s central bank kept its policy rate unchanged for the sixth consecutive meeting on May 9 amid low inflation, while saying its measures to support the ringgit were paying off.

Bank Negara Malaysia (BNM) held its overnight policy rate at 3%, unchanged since May 2023. Policy was “supportive of the economy”, and consistent with likely inflation and growth, BNM said in a statement. 

Headline inflation was 1.7% year on year in the first quarter, while core inflation was 1.8%. BNM says it

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