Rbi keeps repo rate unchanged

PETALING JAYA: Bank Negara Malaysia (BNM) is expected to keep the Overnight Policy Rate (OPR) unchanged at 3% at tomorrow’s monetary policy meeting following the 25-basis point cut in May, according to Standard Chartered Research. It said the central bank’s last policy stance sounded neutral. “The rate cut in May was intended to address some signs of financial conditions tightening, rather than any significant growth deterioration or fall in inflation,” it said in research note “While, downside risk to growth is expected to remain, we think the May cut was pre-emptive and expect the central bank to remain watchful.” Standard Chartered expects Malaysia’s growth to remain above 4.5% year on year with stable core inflation (excluding tax changes effect) at 1.6%. Meanwhile, it noted that the Monetary Conditions Index indicated that monetary conditions have loosened in Malaysia. “The policy rate cut, a weaker real effective exchange rate and a … [Read more...] about Bank Negara tipped to keep policy rate unchanged

The Bank of Thailand kept the policy rate steady for a fourth straight meeting yesterday but painted a bleak outlook by trimming the country's economic and export growth forecasts for the year. The seven-member Monetary Policy Committee (MPC) voted unanimously to leave the policy rate unchanged at 1.75% as widely expected amid easing signals from the US Federal Reserve and the European Central Bank. The committee assessed that the economy would expand at a slower pace than in the previous assessment, mainly due to slowing merchandise and service exports, but said the current monetary policy and financial conditions remain accommodative and conducive to economic growth, said MPC secretary Titanun Mallikamas. The central bank cut its GDP growth forecast for 2019 to 3.3% from the 3.8% predicted three months ago and the payment-based exports forecast to zero growth from the 3% rise seen in March. The downward revisions come after the economy grew at its slowest pace in more than four years … [Read more...] about Policy rate unchanged, BoT grim on export, GDP outlooks

In prudent move, BSP keeps interest rates unchanged Lawrence Agcaoili (The Philippine Star) - June 21, 2019 - 12:00am MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) adopted a prudent pause by keeping interest rates steady to allow previous monetary actions to work their way into the economy. In a press conference, BSP Governor Benjamin Diokno said the BSP decided to keep the overnight reverse repurchase rate unchanged at 4.5 percent. The interest rates on the overnight deposit and lending facilities were likewise kept at 4.25 percent and 4.75 percent, respectively. “A prudent pause allows the BSP to observe and assess the impact of prior monetary adjustments including the phased reduction in the reserve requirements to be completed by the end of July,” Diokno said. The BSP chief said latest baseline forecasts indicate inflation expectations have moderated further and that inflation remains likely … [Read more...] about In prudent move, BSP keeps interest rates unchanged