Friday, March 11, 2011

Malaysia Central Bank Holds Rate at 2.75%, Lifts Reserve Requirement

Malaysia's Central Bank, the Bank Negara Malaysia, held its overnight policy rate unchanged at 2.75% and increased the statutory reserve requirement ratio to 2% from 1% previously. The bank said: "While the stance of monetary policy is expected to remain supportive of growth, the degree of monetary accommodation may be reviewed given the sustained growth in the economy and risks to inflation,". Malaysia recorded inflation of 2.4% in January, a 20-month high. The Malaysian government expects the economy to expand by about 6%, compared to 7.2% in 2010.


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