KNews.id-Malaysia’s central bank on Thursday kept its benchmark interest rate unchanged for the second consecutive meeting, flagging concerns over an expected slowdown in global growth.
Bank Negara Malaysia (BNM) kept its overnight policy rate at 2.75%, as expected by economists polled by Reuters. A slight majority in that poll, however, still expected the central bank to raise rates to at least 3.00% by the second half of the year.
Thursday’s decision comes after BNM unexpectedly kept the rate unchanged in January, citing worries over economic growth after four straight rate hikes last year.
BNM said Malaysia’s growth was expected to moderate in 2023 amid cooling global demand.