Malaysia: Inflation remained sticky in February – UOB – by pabspiovano Malaysia Banks Inflation CPI
UOB Group’s Senior Economist Julia Goh and Economist Loke Siew Ting review the latest inflation figures in Malaysia.“Headline inflation maintained at 3.7% y/y in Feb , matching our expectations but coming in a tad higher than Bloomberg consensus’ 3.6%.
“That said, core inflation remains a concern amid a positive domestic growth outlook and expectations of limited effects from global banking woes on Malaysia’s financial system. This continues to support our view that Bank Negara Malaysia will deliver its last rate hike of 25bps in May, taking the Overnight Policy Rate back to the pre-pandemic level of 3.00% and be held for the rest of 2023.
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