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Malaysia keeps interest rate at 3%

by ChemOrbis Editorial Team -
  • 16/05/2017 (12:32)
According to media reports, Malaysia did not change its interest rate and kept it at 3% due to its expectation that the growth will be sustained with the positive effect of weakening inflationary pressure.

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.
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