World Economy

Malaysia CB Standing Pat

Malaysia CB Standing PatMalaysia CB Standing Pat

Malaysia’s central bank is seen keeping its benchmark rate steady on Friday, taking comfort from a stabilizing economy and ringgit currency even as headline inflation hit an eight-year high in March, Reuters reported. Improving demand for crude oil and commodities has sparked much needed momentum in Southeast Asia’s third-largest economy, while measures to clamp down on offshore trade of the ringgit has helped stabilize the currency after a sharp slide against the dollar in early January. All 10 economists polled by Reuters forecast that Bank Negara Malaysia will hold its overnight rate steady at 3%.

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