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Malaysian central bank maintains key policy rate

Xinhua, May 19, 2016 Adjust font size:

Malaysia's central bank decided to maintain its Overnight Policy Rate (OPR) at 3.25 percent on Thursday, citing a more stable outside environment and a domestic growth in line with target.

At the current level of the OPR, the stance of monetary policy is accommodative and supportive of economic activity, the central bank said in a statement.

Its Monetary Policy Committee recognizes that there are downside risks in the global economic and financial environment, it said.

Malaysia recorded a GDP growth of 4.2 percent in the first quarter of 2016 from the 4.5 percent in the previous quarter.

"For Malaysia, growth moderated slightly in the first quarter of the year, in line with earlier expectations. Going forward, economic activity is expected to improve with domestic demand remaining the key driver of growth," the central bank said in the statement.

Despite the external sector was expected to continue to be constrained by weak external environment, the prospects are the economy to expand by 4 to 4.5 percent in 2016, the central bank said. Enditem