KUALA LUMPUR, Sept 9 — Bank Negara Malaysia (BNM) is expected to hold its benchmark rate at 3.25 per cent at a policy review on Friday amid a plunging ringgit and global market uncertainty, a Reuters poll showed.
All 13 economists were unanimous that the central bank will not change its overnight policy rate (OPR), due to risks posed to Malaysia's economic growth by lower commodity prices, capital outflows, the weakened ringgit and a potential rate hike by the U.S Federal Reserve.
Malaysia, a major exporter of natural gas, has seen its earnings drop, as gas prices are linked to oil prices, which have lost almost 60 per cent since June 2014.
The central bank last raised its key interest rate in July 2014 from 3.00 to 3.25 per cent.
The ringgit has lost almost 19 per cent so far this year, and is emerging Asia's worst performing currency. It hit fresh 17-year lows this week, dropping to 4.3695 against the dollar yesterday. — Reuters
