07015 Monetary Policy Statement RefNo 03/1503 Embargo Not‘ publicaton or oreadcast before 18 09 hours on Thursday 05 March 2015 ‘Monetary Policy Statement _Atthe Monetary Policy Conmitlee (MPC) meeting day, Bank Negara Malaysia Sede to mainiain the Overnight Policy Rate (OPR) a 3.26 percent. Wile te global economy continues a expand aa maderate pace, ere has been increasing divergence in he growth momentum among the major economies. For mostof sla. tows supported bythe contrued exparsion of domestic demand. Looking ahead, ve global economy s expected to continue ‘ana moderate recovery path. Nevermoss the dannaide rks ts the global economic aoa main given ne woak gown momentum m a numset of mse ‘eanemes The uncer inte pale snwonment ae als conbutng ote shitin sentiments nthe ermaonal tance markets, Wee e Malaysian nancial markets have been ast by hese global developments. tere remains ample iguatyin the domes nancial aye eh ‘ontnued orderly unclonng ofthe inanca markets. The Baneng iabudone are sso operating wih svong capil ang hq bers nd contnue te ‘rovderancing othe economy. There has, threo, been no asrptn ofrancial termed, nthe Malasien economy, domestic demand nes continued to suppat growth amié@ maderaton in exports nthe fourh quae of 2014. Going orwa, domes demand wll omain a a key drwe of growth Wh be nvodueson ofthe Goods ans Serves Tax andthe owe eatrings inthe commodity sector [re expecos ta nave some impacron pvvate eonaumpion,househal spending wil onsnve tobe supported byte tsedyinrease nom and mploymert Ada analy, We ower fel prices ate conan fo Ngher disposable income. neater acl sls expected ema eile wih 208d based capa spending by both te private and pub secre, us eahioing te ower investnentin te ol and gas seco. ilo expor grow wl be ‘focte bys lowor comma pices, he parformance efmanulacured exports expect fo lmprove, The prospecs ae eter or the Malayan ‘canon tol remain ona sted growth pat Headine intaton declined in January ands expected remain owin fe frst quarerof2015, For the resto the year, neadln Intation Isexpated to rend higher bulto be below is hstaieal average. The lower Us pices wil parialy oe! oer domestic coat aso Whie ihe monly Readlins fia WoUld Be Subjcie oe voltty in global ol pices, undering infaton's expected to remain contained amide sable domestic demand contons [Ate curentovel ofthe OPR, he stance of monetary poy remains sccommodalve and aupporive of scanamic acy he MPC wil coninue to carey ‘stoss external ans domeste developments and te impleaions am he “ak naan and on fhe Malaysian economy. The MPC wills conte fo ‘monter the rks of destabilsng francal mbalacos lo ansue he Susana othe overall gow prospects, Bank Nogara Malay os march 2018 (© Bark Negara Naaysia, 2018. Al igh reserve, flee | PrvacySiiement | SonuniyPaliy | Disclamer Saale le ane Negara Malaysia, 2018. Al Rights Reserves 1-300-8-5485 | SS o 75888. BNM TANYA Your enquiry] Eal-bntelelnk@ bam govmy ‘S8ank Negara Malay 2 btpuwizw.brm gou-myindex.che?chen_pressiog=en_press,alleac=31638iang=en "