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Malaysia holds but hints at future tightening

BNM no longer referring to its monetary policy stance as ‘appropriate’

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Bank Negara Malaysia

Bank Negara Malaysia (BNM) has held rates, but signalled a more hawkish tilt in its monetary policy statement.

The central bank announced today (September 3) that it would be maintaining the overnight policy rate at 2.75%, the level at which it has remained since last July. The decision had been widely expected, with 20 of the 22 economists surveyed by Bloomberg having predicted a hold.

However, in its statement, the bank no longer described its monetary policy stance as “appropriate” – a word it

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