Malaysian central bank holds policy rate

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


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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