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the ceiling and floor rates of the corridor of the opr are correspondingly reduced to 2.75 percent and 2.25 percent, respectively
neutral
not forward looking
certain
2,020
705
since march 2020, bank negara malaysia has provided additional liquidity of approximately rm42 billion into the domestic financial markets, via various tools including outright purchase of government securities, reverse repos and the reduction in statutory reserve requirement
dovish
not forward looking
certain
2,020
921
the future stance of monetary policy would be determined by bank negara malaysia s assessment of new data and information and their implications on the medium-term prospects for price stability and economic growth
neutral
forward looking
uncertain
2,007
158
private consumption will be underpinned by stable income growth and favourable labour market conditions
dovish
forward looking
certain
2,014
654
further progress in the financial sector resolution has also been made in several advanced economies, the success of which is a key precondition for the stabilisation of economic and financial conditions
dovish
forward looking
certain
2,009
822
at the monetary policy committee mpc meeting today, bank negara malaysia decided to reduce the overnight policy rate opr by 50 basis points to 2.00 percent
dovish
not forward looking
certain
2,009
43
risks to the inflation outlook remain highly subject to the degree of persistence in core inflation, changes to domestic policy on subsidies and price controls, as well as global commodity prices and financial market developments
neutral
forward looking
uncertain
2,023
189
the global economy continues to strengthen with growth becoming more synchronised across countries
dovish
forward looking
certain
2,017
869
looking ahead, while global growth is expected to continue, the outlook is vulnerable to downside risks arising from the prevailing fragilities that are both cyclical and structural, excessive leverage, the sharp declines in commodity prices and the rising geopolitical risks
dovish
forward looking
uncertain
2,016
987
headline inflation in 2022 is projected to remain moderate as the base effect from fuel inflation continues to dissipate
dovish
forward looking
uncertain
2,022
467
while further upward price adjustments may occur, overall inflation is still expected to be contained
dovish
forward looking
uncertain
2,007
257
the meeting also approved the schedule of mpc meetings for 2014
irrelevant
not forward looking
certain
2,013
658
at the current opr level, the monetary policy stance remains supportive of the economy and is consistent with the current assessment of inflation and growth prospects
dovish
forward looking
certain
2,024
754
despite the signs of slowing global growth, commodity and food prices have continued to increase
dovish
not forward looking
certain
2,008
632
inflation for 2015 is expected to be lower than earlier anticipated due to the lower energy and commodity prices
dovish
forward looking
uncertain
2,015
426
the risks of a broad-based and persistent decline in prices are assessed to be limited as economic activity resumes and demand conditions improve
neutral
forward looking
certain
2,020
288
global headline and core inflation continued to edge downwards in recent months with some central banks commencing monetary policy easing
dovish
not forward looking
certain
2,024
70
given the medium term outlook for inflation and economic growth, the current level of the policy rate remains appropriate
neutral
not forward looking
certain
2,007
167
in asia, growth is expected to be driven by domestic activity and stronger external demand
dovish
forward looking
uncertain
2,017
102
nevertheless, the expectation is for underlying inflation to remain relatively stable, amid the more moderate demand conditions
dovish
forward looking
uncertain
2,015
250
the malaysian economy expanded by 7.6 in the first quarter of 2004
neutral
not forward looking
certain
2,004
832
measures under budget 2024 will also provide additional impetus to economic activity
dovish
forward looking
certain
2,023
916
the global economic activity is showing signs of improvement, albeit at an uneven pace
dovish
forward looking
certain
2,013
763
investment activity is projected to be sustained by implementation of ongoing infrastructure projects and capacity expansion by firms
dovish
forward looking
uncertain
2,018
84
downside risks to this outlook, however, continue to persist
hawkish
forward looking
certain
2,015
295
it also excludes the estimated direct impact of consumption tax policy changes
neutral
not forward looking
certain
2,019
125
inflation in 2024 is expected to remain moderate, broadly reflecting stable demand conditions and contained cost pressures
neutral
forward looking
uncertain
2,024
845
investment activity would be supported by continued progress of multi-year infrastructure projects, and implementation of catalytic initiatives under the recently announced national master plans
dovish
forward looking
uncertain
2,023
191
domestic demand will remain the key driver of growth, supported by improving incomes and overall labour market conditions, new and ongoing infrastructure projects and sustained capital investment by firms in the manufacturing and services sectors
dovish
forward looking
certain
2,017
617
measures to contain the covid-19 pandemic have disrupted economic activity across most economies
neutral
not forward looking
certain
2,020
64
upside risks to inflation could however emerge in the event of supply disruptions that results in higher global prices for commodities
hawkish
forward looking
uncertain
2,012
709
these growth prospects are underpinned by strengthened domestic demand and a supportive external environment
dovish
forward looking
certain
2,005
247
global trade recovery is expected to continue, supported by both electrical and electronics ee as well as non-ee products
dovish
forward looking
uncertain
2,024
434
overall, the balance of risks to the global growth outlook remains tilted to the downside
neutral
forward looking
certain
2,021
362
these risks could also reignite financial market volatility
hawkish
forward looking
uncertain
2,017
215
in the domestic economy, the pace of recovery is gaining momentum
dovish
forward looking
certain
2,009
879
going forward, inflation is, however, expected to remain above its long-run average due to the higher domestic cost factors
hawkish
forward looking
certain
2,014
985
underlying inflation, as measured by core inflation, is expected to remain subdued, averaging between 0.5 and 1.5 for the year, amid continued spare capacity in the economy
neutral
forward looking
certain
2,021
652
while the advanced economies continue to register modest growth, most emerging economies have experienced strong growth
dovish
not forward looking
certain
2,011
316
the stance of monetary policy continues to remain supportive of economic activity
dovish
forward looking
certain
2,006
489
for malaysia, latest indicators suggest that the domestic economy continued to register favourable performance in the first quarter
dovish
not forward looking
certain
2,014
89
inflation during the first four months of 2007 averaged 2.4 and has continued its downward trend
neutral
not forward looking
certain
2,007
977
this reflects the lapse in the impact of consumption tax policy changes, the relatively subdued outlook on global oil prices, and policy measures in place to contain food prices
neutral
not forward looking
certain
2,019
199
looking ahead, private consumption will be supported by the income growth and stable employment conditions
dovish
forward looking
certain
2,012
277
despite the global financial turmoil, domestic credit conditions have remained favourable as demand for financing continues to be supported by the ample liquidity in the financial system
dovish
forward looking
certain
2,008
878
going forward, growth is expected to remain anchored by firm private sector expenditure
neutral
forward looking
uncertain
2,019
789
global growth is projected to experience a faster expansion in 2018
dovish
forward looking
uncertain
2,018
408
to further reduce the cost of intermediation, the mpc also decided to reduce the statutory reserve requirement srr from 4 to 3.5, with effect from 1 december 2008
dovish
not forward looking
certain
2,008
865
although the tightening in global financial conditions has eased somewhat, heightened policy uncertainties could lead to sharp financial market adjustments, further weighing on the overall outlook
dovish
forward looking
uncertain
2,019
148
in the region, the recovery continues, although the pace of economic growth has moderated arising from a weakening of external demand
dovish
forward looking
certain
2,010
894
the global economy has strengthened further, with growth becoming more entrenched and synchronised across regions
dovish
not forward looking
certain
2,018
37
bank negara malaysia will monitor closely and assess the evolving developments in setting future monetary and financial policies
neutral
forward looking
uncertain
2,009
776
there are early signs of improvement in chinas growth, though its property market remained weak
irrelevant
not forward looking
certain
2,023
380
the financial sector remains sound, with financial institutions continuing to operate with strong capital and liquidity buffers
neutral
not forward looking
certain
2,018
851
the economic impact from the recent increase in covid-19 cases due to the omicron variant is expected to be considerably less severe than previous waves in the absence of stringent restrictions
neutral
forward looking
uncertain
2,022
697
with this decision, the mpc has withdrawn the monetary stimulus intended to address the covid-19 crisis in promoting economic recovery
neutral
not forward looking
certain
2,023
814
however, downside risks to growth remain
dovish
not forward looking
certain
2,020
904
headline inflation increased to 4.3 in the first quarter of the year, in line with the mpcs expectations
hawkish
not forward looking
certain
2,017
252
underlying inflation, however, is expected to remain relatively subdued in 2022
hawkish
forward looking
uncertain
2,021
929
on balance, the prospects are for the malaysian economy to remain on a steady growth path, with domestic demand being the key driver of growth
neutral
forward looking
certain
2,015
611
in asia, growth will be driven by sustained domestic activity and strong external demand
dovish
forward looking
certain
2,018
500
the ringgit has continued to stabilise
neutral
not forward looking
certain
2,017
163
looking ahead, the narrowing interest rate differentials between malaysia and the advanced economies is positive for the ringgit
dovish
forward looking
certain
2,024
280
risks to the growth outlook, however, remain tilted to the downside
dovish
forward looking
uncertain
2,022
942
while the recent re-imposition of containment measures in select locations will affect economic activity in the short term, the impact will be less severe as almost all economic sectors are allowed to operate
neutral
forward looking
certain
2,021
596
average headline inflation is likely to be negative this year, primarily reflecting the substantially lower global oil prices
dovish
forward looking
certain
2,020
604
the growth momentum is expected to be sustained into the fourth quarter
dovish
forward looking
uncertain
2,006
217
looking forward, inflation in 2024 is expected to remain moderate, broadly reflecting stable demand conditions and contained cost pressures
dovish
forward looking
uncertain
2,024
395
the malaysian financial system remains strong and the monetary transmission process is functioning to deliver the impact of the policy stimulus to the economy
dovish
forward looking
certain
2,009
997
the reopening of international borders will lift tourism-related sectors
dovish
forward looking
certain
2,022
475
the global economic and financial conditions registered some improvements since the previous mpc meeting
dovish
not forward looking
certain
2,012
203
this normalisation of monetary conditions also aims to mitigate the risk of broader economic and financial imbalances that could undermine the growth prospects of the malaysian economy
dovish
forward looking
certain
2,014
850
the recovery in the global economy continues to gather pace, supported by continued expansionary economic policies, improved financial conditions and a strong rebound in several emerging economies
dovish
forward looking
certain
2,010
963
given the uncertainties associated with both the inflation and economic outlook, particularly in relation to the impact of high oil prices, the balance of these risks will be closely monitored in setting the future course of monetary policy
neutral
forward looking
uncertain
2,005
982
the global economy continues to strengthen with growth becoming more entrenched and synchronised across countries
dovish
forward looking
certain
2,017
445
in the advanced economies, growth has been modest and uneven
dovish
not forward looking
certain
2,016
507
economic activity in most major advanced economies is slower amid greater policy uncertainty while conditions in the international financial markets continue to be volatile
hawkish
not forward looking
certain
2,012
645
the global economy is expected to continue to experience slow growth
dovish
forward looking
uncertain
2,012
196
going forward, domestic demand will still remain the key driver of growth
neutral
forward looking
certain
2,014
708
several regional economies have reported positive growth in the third quarter, indicating that recovery in the region is ongoing
dovish
not forward looking
certain
2,009
785
the demand for financing by businesses and consumers remains strong, with robust investment activity as corporations expand capacity, and steady consumption growth also being supported by a stable employment environment and growth in incomes
dovish
forward looking
certain
2,008
423
heightened market volatility, impaired financial intermediation and weak labour market conditions continue to weigh down on growth in the advanced economies
dovish
not forward looking
certain
2,012
683
over the course of the covid-19 crisis, the opr was reduced by a cumulative 125 basis points to a historic low of 1.75 to provide support to the economy
dovish
not forward looking
certain
2,022
415
it also excludes the estimated direct impact of tax policy changes
neutral
not forward looking
certain
2,019
895
private consumption is expected to be sustained by continued wage and employment growth, with support from various policy measures to raise disposable income
dovish
forward looking
uncertain
2,017
693
the ringgit, along with most emerging market currencies, has experienced sharp adjustments and significant volatility due to continuing uncertainties in global economic and policy environment, and geopolitical developments
hawkish
not forward looking
certain
2,016
993
at the new level of the opr, the stance of monetary policy continues to remain accommodative and supportive of economic growth
dovish
not forward looking
certain
2,010
781
these developments have raised uncertainties on the potential impact on the international financial system and the global economic activity
neutral
forward looking
uncertain
2,010
400
however, competitive pressures and slowing demand are likely to contain the pass-through to consumer prices
neutral
forward looking
uncertain
2,008
132
risks to the domestic growth outlook are relatively balanced
neutral
not forward looking
certain
2,023
55
in the emerging economies, growth is projected to be supported by sustained domestic activity and stronger external demand
dovish
forward looking
certain
2,017
981
the ringgit continues to be primarily driven by external factors, namely expectations of major economies monetary policy paths and ongoing geopolitical tensions
dovish
forward looking
certain
2,024
847
the current level of the policy rate remains consistent with the medium term outlook of relatively low and stable inflation and sustainable economic growth
dovish
not forward looking
certain
2,007
193
for 2021, while near-term growth will be affected by the re-introduction of stricter containment measures, the impact will be less severe than that experienced in 2020
dovish
forward looking
certain
2,021
696
the growth outlook remains subject to downside risks, including an escalation of geopolitical tensions, weaker-than-expected growth outturns in major economies, and a sharp tightening in financial market conditions
hawkish
forward looking
certain
2,023
431
as in the previous month, the decline largely reflects the cumulative fall in fuel prices since june 2008, and the easing pressure on food prices
dovish
not forward looking
certain
2,009
620
while the growth outlook is subject to downside risks stemming from weaker-than-expected external demand and larger and protracted declines in commodity production, upside risks mainly emanate from stronger-than-expected tourism activity, a stronger recovery from the ee downcycle, and faster implementation of existing and new projects
neutral
not forward looking
certain
2,023
660
in this environment, however, domestic liquidity continues to be sufficient and the financial system remains sound with healthy growth in financing
dovish
not forward looking
certain
2,015
388
the deterioration in the world economy during the first quarter was worse than expected as the global financial turmoil became more prolonged
hawkish
not forward looking
certain
2,009
177
underlying inflation, as measured by core inflation, is expected to average between 2.0 - 3.0 in 2022 as demand continues to improve amid the high-cost environment
neutral
forward looking
certain
2,022
859