The central bank said in a statement that the degree of monetary accommodativeness is consistent with the intended policy stance at the current level of the OPR.
“Recognising that there are downside risks in the economic and financial environment, the MPC will continue to monitor and assess the balance of risks surrounding the outlook for domestic growth and inflation,” it said.
BNM said that global growth momentum is showing signs of moderation amid slowing growth in most major advanced and emerging economies, and going forward, unresolved trade tensions remain a key source of risk, affecting global trade and investment activities.
It noted that the tighter global financial conditions and elevated political and policy uncertainty could lead to financial market adjustments, further weighing on the overall outlook.
Source: The Sun Daily