Kuala Lumpur: Malaysia will have to mark its growth forecasts from 4.5% to 5.5% for the year due to commercial and tariff uncertainties, said its governor of the Central Bank.
The country of Southeast Asia is not in a hurry to revise the forecasts and will see how the global commercial situation is taking place, the governor of Bank Negara Malaysia said on Wednesday, Abdul Rasheed Ghaffour during an international monetary fund event in Washington on Wednesday, April 23.
Malaysia faces a rate rate of 24% in July for its goods exported to the United States, unless an agreement is concluded between the two countries.
The Minister of Commerce of Malaysia and the Second Minister of Finance are currently in the United States for conferences with the US trade representative and other officials.
Abdul Rasheed said that Malaysia approached the current global economic situation from a strength position, given a better than expected growth of 5.1% last year, a strong domestic demand, an increase in investment activities and a resumption of exports.
The key interest rate of Malaysia of 3% was favorable to growth and reflected the prospects for the inflation of the central bank, added Abdul Rasheed.
“We do not want monetary policy to exacerbate uncertainty … More importantly, it is to stick to the mandate in terms of price stability which can be conducive to sustainable economic growth,” he said.
