Malaysia: BNM seen holding rates this week – UOB
|The Bank Negara Malaysia (BNM) is forecasted to keep the policy rate unchanged at its meeting on Tuesday, noted Economist at UOB Group Lee Sue Ann.
Key Quotes
“The lower bound of the BNM’s GDP projections of -3.5% to -5.5% for this year does assume downside risks including a setback in global growth, prolonged COVID-19 outbreak, and targeted Movement Control Order (MCO) in high risk areas.”
“Moreover, we expect further fiscal support in the coming Budget 2021.”
“BNM also has other policy levers that can be used to support the recovery. As such, we expect BNM to keep the overnight policy rate unchanged.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.