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Nikkei Markets

POLL: Bank Negara Malaysia Likely To Hold Policy Rate Steady At July Meeting

By Kuala Lumpur Newsroom
Nikkei Markets
KUALA LUMPUR (Jul 11) -- Malaysia's central bank is likely keep its benchmark policy rate unchanged at meeting on Jul. 13 to maintain accommodative monetary conditions, according to a Nikkei Markets survey.

Bank Negara Malaysia is likely to hold the overnight policy rate at 3%, a median estimate in a poll of seven economists show. The central bank has kept the policy interest rate steady since a surprise 25 basis point cut last July. Its next policy decision is due on Sep. 7.

"We expect the MPC the stand pat, but would expect the policy statement to sound more positive on growth, mirroring recent comments by MOF officials that 2017 growth will exceed 5%, higher than BNM's earlier 4.3-4.8% forecast," Citi said in an investor note. The central bank is expected to reiterate its expectation for headline inflation to moderate in second half of the year, it added.
- By Kuala Lumpur Newsroom; kleditorial@NikkeiNewsRise.com; +60320267363
- Edited by Mrigank Dhaniwala
- Send Feedback to feedback@nikkeinewsrise.com
- Copyright (c) 2017 Nikkei NewsRise Asia Pte Ltd.

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