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Malaysia retains key policy rate

Xinhua, May 12, 2017 Adjust font size:

Malaysia's central bank decided to maintain the Overnight Policy Rate (OPR) at 3.00 percent Friday, saying that the current level is supportive of the economy.

The growth momentum of the economy is expected to strengthen in the first half of 2017, and to be sustained for the rest of the year, the central bank said in a statement.

"Growth will be mainly driven by domestic demand amid continued wage and employment growth, and the implementation of new and on-going investment projects," it said.

"On the external front, given the improvement in global growth, exports are expected to perform more strongly and contribute positively to Malaysia's economic performance."

The central bank said a headline inflation which increased to 4.3 percent in the first quarter was in line with expectation, while the Malaysian ringgit has continued to stabilized.

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