Malaysia Set to Extend Rate Pause as Ringgit Outperforms Peers [BNN Bloomberg (Canada)]
HSBC Holdings, plc. (HSBC)
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Source: BNN Bloomberg
Bank Negara Malaysia will likely maintain the overnight policy rate at 3%, according to all 24 economists in a Bloomberg survey. The central bank last adjusted borrowing costs a year ago, when it increased the benchmark by a quarter point. Malaysia is under no immediate pressure to follow the lead of Indonesia, that had signaled there won't be further tightening. The ringgit has recovered from a 26-year-low reached in February against the dollar, outperforming most of Southeast Asia this year after the central bank mounted the currency's defense. That gives BNM space to support the economy as it assesses the impact of long-awaited subsidy reforms on inflation. The central bank will probably stick to a neutral tone in its statement, “reflecting that BNM is comfortable with the current policy rate,” said Yun Liu, Asean economist at HSBC Holdings Plc. Here's what to watch out for in Thursday's statement at 3 p.m. local time: Inflation Outlook While still benign, price pressure
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