KUALA LUMPUR, Nov 9 — Malaysia’s central bank left its key interest rate unchanged today, even as inflation for full-year 2017 is expected to come in at the higher end of its forecast range of 3-4 per cent.
All 11 economists polled saw no change to Bank Negara Malaysia’s (BNM) key rate, which has been maintained at 3.0 per cent after a 25-basis-point cut in July 2016.
The central bank said in a statement that “the stance of monetary policy remains accommodative”.
BNM said economic growth would be driven by private consumption, supported by continued improvements in income and overall labour market conditions.
The government has projected 2017 full-year growth to come in at 5.2-5.7 per cent.
The annual headline inflation rate picked up to 4.3 per cent in September, the second month it has gained pace but is still below an eight-year high of 5.1 per cent in March. — Reuters
