KUALA LUMPUR, Oct 3 ― Malaysia's economy remains resilient anchored by domestic-oriented activities and will continue to be supported by labour market conditions and...
Bank Negara Malaysia governor Datuk Abdul Rasheed Ghaffour says Malaysia's economy remains resilient anchored by domestic-oriented activities and will continue to be supported by labour market conditions and investments moving into next year.
Abdul Rasheed said Malaysia, fortunately, does not face a severe inflation challenge such as in other economies and core inflation has continued to ease to 2.5 per cent in August this year, in line with the lower global commodity prices and improving supply and demand conditions. “Beyond the immediate term, we should aim towards sustaining our long-term growth, while improving the quality of life for all Malaysians. Structural reforms play a critical role in achieving this and the government has recently set this in motion, with the release of the Madani Economy Framework, the New Industrial Master Plan 2030, and the National Energy Transition Roadmap,” he said.
He said such policies would continue to be aligned with the bank’s regulatory “risk-based” philosophy and it is important, especially given the upcoming operationalisation of digital banks in Malaysia. On the National Fraud Portal to be launched by mid-2024, Abdul Rasheed said it will streamline the industry’s scam response end-to-end, from initial identification and reporting, to the recovery of funds.
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