Malaysia Central Bank Chief Rules Out Key Rate Cut for Now
- Policy stance continues to support economy, says Abdul Rasheed
- Governor says prices are still rising, but at a slower pace
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Malaysia’s central bank chief has ruled out an interest-rate cut for now, adding to the growing global narrative that borrowing costs are set to remain higher for longer.
The domestic economy is likely to remain resilient as employment and wages support household spending, Bank Negara Malaysia Governor Abdul Rasheed Ghaffour said in an emailed response to questions. Multi-year infrastructure projects and an expected rebound in global demand in 2024 will also help underpin Malaysia’s expansion, he added.