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NEWS UPDATES 25 November 2009

Malaysia’s central bank keeps benchmark rate unchanged

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Bank Negara, Malaysia’s central bank, has decided to keep the benchmark interest rate – the overnight policy rate – unchanged at 2 percent as inflation remained benign in October and economic recovery continued apace. The central bank’s decision confirmed a number of analysts’ expectations, reported business daily the StarBiz.

Morgan Stanley Research said policy hikes were expected to begin from the second-quarter of next year “with a cumulative raise of 200 basis points by 2010 year-end”.

Bank Negara said in a statement following the monetary policy committee meeting yesterday that domestic economic conditions continued to improve while price pressures and inflation expectations were expected to remain contained going forward.

It said “the current monetary policy stance is appropriate and will continue to provide support for economic activity.”

Bank Negara said the latest indicators continued to signal further improvements in the international and financial conditions with economic activity in the advanced economies showing broader signs of recovery supported by the impact of policy measures.


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