Bank Negara Malaysia is expected to maintain its overnight policy rate at 1.75% for a fifth straight time.
Prospects for a quick recovery have dimmed since Malaysia’s last monetary policy meeting in March as the infection rate climbed with the onset of Ramadan, leading to a shortage of ICU beds in some areas. “While we and the market do not expect the central bank to cut , there remains a small tail risk that it might just do so,” said Wellian Wiranto, an economist at Oversea-Chinese Banking Corp.Bank Negara governor Nor Shamsiah Yunus said in March she expects the economy to return to pre-Covid levels by the middle of this year. The virus’ unpredictable course could threaten that outlook, however.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: