Malaysia: BNM expected to raise the policy rate – UOB

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Economist at UOB Group Lee Sue Ann suggests the Bank Negara Malaysia could raise the policy rate at its meeting later in the week.

“Given the robust GDP growth print in 2Q22, signs of further economic expansion in 2H22 albeit at a moderate pace, and broadening second-round effects on inflation, BNM will likely follow-through with a third 25bps rate hike at the coming meeting.”

“Besides internal factors, we believe the expected outsized Fed rate hikes in the coming months and global monetary conditions would also be taken into consideration by BNM at the Sep meeting.”

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