Bank Negara Malaysia Has Policy Flexibility

Dow Jones
昨天

0157 GMT - The change in Bank Negara Malaysia's policy language could give the central bank more flexibility to adjust policy, say Goldman Sachs economists Chris Poh and Danny Suwanapruti in a note. Contained inflation means it can afford to wait for clearer evidence of broader price pressures before raising rates, they say. Stronger growth, with 2026 GDP now expected at around 5%, reduces the need for policy support and gives BNM more room to tighten if inflation risks broaden. Meanwhile, limited wage pressures and contained pass-through should allow policymakers to remain patient, GS says. GS expects BNM to maintain the policy rate at 2.75% through 2026, but sees rising risks of a 25 bps hike in 1H 2027.

 

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