Malaysia keeps interest rate at 3%
The central bank expects growth, which began in the second half of 2016, to continue in 2017 on the back of large infrastructure projects and exports.
However, the bank warns that external risks such as protectionism and the volatility in commodity prices can have a slowing effect on growth. It also notes that global oil prices will influence inflation, which stands at 4.3%.
Economists argue that Malaysia is not likely to cut rates in 2017 due to the uncertainty over the ringgit’s outlook.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Lackluster demand outweighs tightness in Asian ABS markets
- Will costs drum up support for a 3rd-month-firming in Europe PET market?
- Import PE markets give softening signals in China, SE Asia
- PVC supplies tight, demand robust across Europe
- China’s local PP, PE markets snap nine-week rally
- Turnarounds keep PP supply tight in SE Asia
- European PP market sees step backs from initial July offers
- Focus turns to August in Turkey: PP and PE players sidelined amid blurry outlook
- SEA PE uptrend intact, yet increases capped by reduced demand
- Taiwanese major hikes Aug PVC offers to Asia as limited availability outweighs monsoon effect