Bank Negara focuses on fortifying financial stability while navigating external uncertainties, says Kenanga Research.
The central bank recently highlighted that the US high-interest rates continued to weigh on emerging market currencies, says BMI, a Fitch Solutions company.
“We anticipate that escalating geopolitical tensions, which contribute to mounting macroeconomic uncertainty, could overshadow any emerging signs of recovery in global trade and growth. This, it said, would rein in any hawkish tendencies and grant BNM the latitude to focus on fortifying financial stability while navigating external uncertainties.
“We expect OPR to remain at 3% in 2024 given our current forecasts of moderate pick up in gross domestic product growth to 4.4% and inflation rate to 3%,” it said.
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