January 24, 2024

Malaysia Policy Rate 3.0% (consensus 3.0%) in Jan-24

  • Bank Negara Malaysia's MPC has held the OPR steady at 3.00%, reflecting an alignment with economic consensus and a calculated response to moderating global inflation and ongoing expansion.
  • Future interest rate policies will be influenced by the balance of domestic growth factors—such as export recovery and strong domestic spending—against external risks, including global market volatility and the potential for unexpected inflationary pressures.
  • The MPC's close monitoring of the evolving economic landscape, especially the anticipated review of price controls and subsidies, will be crucial in determining the trajectory of Malaysia's interest rate policy in 2024.

January 22, 2024

Malaysia CPI Inflation 1.5% y-o-y (consensus 1.5%) in Dec-23

- Malaysia's CPI inflation in December 2023 remained stable at 1.5% year-on-year, in line with the consensus forecast.
- The current CPI inflation rate is lower than the one-year average by 1 percentage point, indicating a trend of relatively lower inflation levels.

December 22, 2023

Malaysia CPI Inflation 1.5% y-o-y (consensus 1.7%) in Nov-23

- Malaysia's CPI inflation in November 2023 grew by 1.5% year-on-year, slightly below market consensus expectations of 1.7% and representing the lowest growth rate since February 2021.
- The inflation rate is 1.19 percentage points below the one-year average, indicating a deceleration to surprisingly weak inflationary pressures in the economy.

November 30, 2023

Malaysia M3 Money Supply 3.7% y-o-y in Oct-23

- Malaysia's M3 Money Supply grew by 3.7% year-on-year in October 2023, marking the highest rate since March 2023.
- This rate is back in line with the one-year average, but significantly undershoots the long-run average by 1.10 percentage points.