Malaysia Economy Set to Hit Upper End of Growth Target, BNM Says

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Or sign-in if you have an account.(Bloomberg) — Malaysia’s economy is poised to grow at the upper end of the 4%-5% official forecast for this year, according to the central bank chief.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an Account“The medium term outlook remains favorable” and growth is expected to stay firm, Bank Negara Malaysia Governor Abdul Rasheed Ghaffour said Tuesday at the central bank’s annual symposium. “We remain well on track to grow by between 4% to 5%, maybe likely towards the upper end of the range, with manageable inflation,” he said.The governor’s assessment comes as investors gauge whether Malaysia can sustain one of Southeast Asia’s fastest growth rates after weathering the fallout from the conflict in the Middle East and global trade tensions. A boom in artificial intelligence-related investment, resilient electronics exports and robust domestic demand have helped cushion the economy against external shocks, even as policymakers remain alert to inflationary pressures and weaker global growth.Gross domestic product rose 5.8% in the three months through June from a year earlier, according to the country’s advance estimates, beating first-quarter expansion of 5.4% and analysts’ median estimate. Policymakers, including Rasheed, have said Malaysia remains confident of achieving its goal of 4%-5% growth in 2026 despite the US war with Iran.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againThe energy-producing country also has less dependence on oil and gas imports than neighbors like the Philippines, giving it a crucial buffer in the face of the war in Iran. Price pressures have remained contained, with inflation easing to 1.9% in June, helped by fuel subsidies that have cushioned the impact of higher global crude prices. Resilient economic growth and subdued inflation have given BNM room to leave its benchmark interest rate unchanged since cutting it to 2.75% in July last year.The current monetary policy stance remains in line with domestic growth and inflation outlook, Rasheed said. The central bank “will continue to do what is needed to maintain price stability in a manner that supports sustainable economic growth,” he added.—With assistance from Claire Jiao.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. 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