- Bank Negara Malaysia (BNM) is anticipating growth across a diverse range of economic segments in Malaysia. According to the BNM’s Annual Report 2014, Malaysia’s real GDP growth is projected to be 4.5%-5.5% for 2015, supported by sustained expansion in domestic demand and resilient exports (2014: +6.0%).
- Particularly, the financial system is expected to stay strong owing to the healthy labour market condition. Unemployment rate will remain stable at 3.0% in 2015, compared to 2.9% in 2014. Overall wage growth is also expected to be favourable in 2015.
- Malaysia’s household debt-to-GDP ratio stood at 87.9% in 2014 vs. 86.7% in 2013. That said, BNM assured that the level of indebtedness remains within the capacity of the financial institutions. In particular, stable employment and income conditions have supported the debt servicing capacity of households.
- BNM’s monetary policy will mainly focus on ensuring sustainable growth in a stable price environment, notwithstanding the considerable downside risk to global growth prospects. In the same manner, the Bank will ensure that the policy stance remains appropriate to avoid the build-up of financial imbalances.
Source: AmeSecurities
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