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=MARKET BUZZ: Malaysia Likely To Hold Policy Rate Steady Through 2018 - DBS

KUALA LUMPUR (Jul 11) -- Malaysia's central bank is likely to keep interest rates unchanged for rest of 2018 even as economic growth is expected to moderate this year, says DBS Group Economist Irvin Seah; while downside risks have increased amid weakening external trade, domestic demand remains resilient. “We should expect some moderation in growth because of the fiscal consolidation which would have an impact on investment growth,” he says. Further, ringgit appears to be holding up and not under pressure; Seah notes that “it’s more of a story of strong dollar rather than a weak ringgit.” USD/MYR now up 0.1% at 4.0270. Bank Negara Malaysia keeps the benchmark overnight policy rate at 3.25% as expected.

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