New: Bank Negara keeps key rate at 3.00 per cent

Bank Negara Malaysia (BNM), held its benchmark interest rate steady at 3.00% during its final policy meeting of 2024, citing a positive economic outlook and controlled inflation.

BNM has kept rates unchanged since May 2023, aligning with expectations that they will hold steady until at least 2026. Economic indicators suggest continued strength, with resilient domestic spending and rising exports.

Bank Negara Statement

Inflation remains modest at 1.8% year-to-date, expected to stay manageable in 2025 amid easing global costs. However, BNM cautioned that inflation risks may arise from government policies, as subsidies on some essentials have been reduced.

“Going into 2025, inflation is expected to remain manageable, amid the easing global cost conditions and the absence of excessive domestic demand pressures,” BNM said in a statement.