Bank Negara Malaysia keeps key interest rate at 3.25% |
"At the current level of overnight policy rate (OPR), the stance of monetary policy remains accommodative and supportive of economic activity," it said.
"The committee recognises that there are heightened risks in the global economic and financial environment. These risks are being carefully monitored to assess their implications on macroeconomic stability and the prospects of the Malaysian economy," it added.
"Domestic demand therefore remains the main driver of growth. However, private consumption is expected to moderate as households continue adjusting to the higher cost of living amidst an uncertain economic environment," it noted.
"The prospects are for the economy to expand within the region of 4.5% to 5.5% this year and 4% to 5% in 2016. It is, however, recognised that the downside risks to growth remain high," it said.
BNM expects inflation to remain relatively stable for the rest of 2015, as the impact on overall inflation has been limited by the lower commodity prices and the generally low global inflation despite the weaker ringgit.
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