Central Banks
Malaysia Set to Keep Rate Steady With Eye on Ringgit Slide
- The ringgit is among Asia’s worst performers this year
- Sputtering growth another reason for BNM to keep rate on hold
Malaysia fifty ringgit banknotes.
Photographer: Samsul Said/BloombergThis article is for subscribers only.
Malaysia’s central bank is expected to keep its benchmark interest rate at a five-year high on Thursday, maintaining what limited policy support it can afford to shore up a currency that recently hit a 26-year low.
Bank Negara Malaysia will hold the overnight policy rate at 3% at its second meeting of the year, according to all 19 economists in a Bloomberg survey. The central bank last adjusted borrowing costs in May 2023, when it delivered a quarter-point hike.