The overnight policy rate is expected to stay unchanged throughout 2023.
PETALING JAYA: The overnight policy rate is likely to stay at 3% until the first half of 2024 , says BMI.
BMI added that it expects base effects to remain favourable and underlying price pressures to soften amid the weakening domestic economy.“We forecast real GDP growth to slow down from 8.7% in 2022 to 4% in 2023, which is below the pre-pandemic average of 4.9%,” it noted. It also noted, at the time of writing, that the ringgit was down 5.8% against the US dollar in the year leading up to Sept 7. The local currency was one of the region’s weakest currencies after the Japanese yen.
However, it also raised concerns that a rapid shift towards monetary easing could intensify the downward pressure on the local currency.
Italia Ultime Notizie, Italia Notizie
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