As a result of the Monetary Policy Committee meeting, Bank Negara Malaysia (BNM) agreed to maintain interest rates at 3.00% for the fourth consecutive time since May 2023.
According to BNM, the decision was made as a result of the outlook regarding the global economic situation which is developing due to the persistent domestic demand.
The global economy will now continue to be hampered by continued inflation and rising interest rates.
In addition, the unstable geopolitical conflict of the United States also has an impact on the national economy due to the strength of the US dollar which is now seen as somewhat shaky after the FOMC meeting early this morning saw interest rates remain at 5.50%.
Interest rates are now set to consistently support current assessments of expected inflation and economic growth.
This decision was approved by the Monetary Policy Committee 2024 in accordance with the Bank Negara Act 2009, the MPC meets six times throughout the year.
