Malaysia: BNM expected to hold rates at 2.00% - UOB
|Lee Sue Ann, Economist at UOB Group, sees the Bank Negara Malaysia keeping its monetary policy unchanged at the July 7 meeting.
Key Quotes
“BNM cut the OPR by 50bps to 2.00% in May. This brings cumulative rate cuts to 100bps between Jan-May.”
“We expect policy rates to stay unchanged at 2.00% for rest of the year based on projections for a modest recovery in 2H20 supported by reopening of the economy since May and sizeable MYR295bn (or 20% of GDP) fiscal package.”
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