Tag "Bank Negara Malaysia"

Back to homepage

Coronavirus likely to shrink Malaysia’s GDP in 2020

KUALA LUMPUR: The COVID-19 catastrophe will have a significant impact on Malaysia’s economy, with the gross domestic product (GDP) expected to decline to between 2.0 and 0.5% in 2020 versus 4.3% last year. However, Bank Negara Malaysia (BNM) estimated the

Read More

Sabah govt-owned financial institutions urged to offer loan repayment

KOTA KINABALU: UMNO Sabah has called on state government-owned financial institutions to allow all their customers to defer their monthly installment payments. In a statement today, communication director Ghazalie Ansing said, it was only proper for Sabah Credit Corporation, Usaha

Read More

Muhyiddin: Six-month moratorium on bank loans, restructuring of credit card payments

SUNGAI BULOH: The government decided to postpone repayment of bank loan for six months and retransmission credit card balance as well as cooperate loans with the amount of benefits up to RM 100 billion. In a statement today, Prime Minister

Read More

BNM cuts OPR by 25 bp to 2.50%

KUALA LUMPUR: The Monetary Policy Committee (MPC) of Bank Negara Malaysia (BNM) decided to reduce the Overnight Policy Rate (OPR) by 25 basis points to 2.50% at its meeting today. In a statement today, BNM said the ceiling and floor

Read More

Stimulus package will add 1.4 percentage to the country’s GDP this year

KUALA LUMPUR: The RM20 billion economic stimulus package will roughly add about 1.4 percentage points to the country’s Gross Domestic Product (GDP) in 2020, which has already been revised lower to between 3.2-4.2% from the government’s earlier target of 4.8%.

Read More

Ringgit will not face extreme volatility thanks to managed float

KUALA LUMPUR: The ringgit has been under pressure throughout this week amid political uncertainty in the country, which intensified with the collapse of the Pakatan Harapan-led government.  On Monday, when the Cabinet was dissolved, the ringgit lost 0.8 per cent

Read More

Govt will announce stimulus package with some delays

The political uncertainty that had wreaked havoc in the country over the weekend has now calmed down after Tun Dr Mahathir Mohamad was appointed interim prime minister yesterday. However, with the ongoing political situation, businesses are concerned if the stimulus

Read More

BNM: 2019 GDP at 4.3%, affected by supply disruption in commodity sector

KUALA LUMPUR: Malaysia’s economy expanded by 3.6% in the fourth quarter of 2019, dragging the full-year Gross Domestic Product (GDP) growth to 4.3%, the lowest since the 2009 financial crisis amid supply disruptions in the commodity sector during the quarter.

Read More

Bank Negara: External influence will affect ringgit

KUALA LUMPUR: Bank Negara Malaysia (BNM) governor Datuk Nor Shamsiah Mohd Yunus today said ringgit, which appreciated 1.1% against the US dollar last year, will continue to be influenced by external developments in 2020. While the Phase One trade deal between the United States and China

Read More

BNM’s official reserve assets at US$103.61 bln as at end-December 2019

KUALA LUMPUR: Bank Negara Malaysia’s (BNM) official reserve assets amounted to US$103.61 billion (US$1=RM4.08), while other foreign currency assets stood at US$415.1 million as at end December 2019. In a statement today, the central bank said for the next 12

Read More