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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.

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.

Malaysia GDP Growth 3.3% y-o-y (consensus 3.0%) in Q3-23

- Malaysia's GDP growth expanded by 3.3% year-on-year in Q3-23 (consensus 3%), marking the highest growth since Q1-23 but falling below the one-year average by 1.42 percentage points and the long-run average by 2.34 percentage points.
- The data indicates a positive economic improvement, but sustained efforts are required to overcome the gap between the current growth rate and recent and historical trends.

Malaysia Policy Rate 3.0% in Nov-23

• Bank Negara Malaysia maintained the OPR at 3.00%, in line with the economic consensus, reflecting a comprehensive assessment of both global and domestic economic factors.
• While the global economy shows expansion, it faces challenges from inflation, trade shifts, and geopolitical tensions. In contrast, Malaysia's outlook is positive, buoyed by domestic expenditure, tourism, and the E&E sector's potential rebound.
• The impending 2024 review of price controls and subsidies, coupled with global interest rate and geopolitical trends, will play pivotal roles in influencing Malaysia's interest rate decisions in the future.