Malaysia Interest Rate
2023 Data – 2004-2022 Historical – 2024 Forecast – Calendar
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The central bank of Malaysia kept its overnight policy rate steady at 3% in July, following a 25bps rate hike in May, saying the monetary policy stance is slightly accommodative and remains supportive of the economy.Policymakers noted that headline inflation continued to ease while the core rate remains elevated.For the second half of 2023, both headline and core inflation are projected to trend lower.Risks to the inflation outlook remain highly subject to the degree of persistence in core inflation, changes to domestic policy on subsidies and price controls, as well as global commodity prices and financial market developments.Meanwhile, growth for the remainder of the year is likely to continue to be driven by resilient domestic demand.Household spending continues to be underpinned by favourable labour market conditions, particularly in the domestic-oriented sectors.
source:
Central Bank of Malaysia
Interest Rate in Malaysia averaged 2.85 percent from 2004 until 2023, reaching an all time high of 3.50 percent in April of 2006 and a record low of 1.75 percent in July of 2020.This page provides – Malaysia Interest Rate – actual values, historical data, forecast, chart, statistics, economic calendar and news.Malaysia Interest Rate – data, historical chart, forecasts and calendar of releases – was last updated on September of 2023.
Interest Rate in Malaysia is expected to be 3.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations.
In the long-term, the Malaysia Interest Rate is projected to trend around 2.25 percent in 2024 and 2.00 percent in 2025, according to our econometric models.
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Calendar
GMT
Reference
Actual
Previous
Consensus
TEForecast
2023-03-09
07:00 AM
Interest Rate Decision
2.75%
2.75%
2.75%
2.75%
2023-05-03
07:00 AM
Interest Rate Decision
3%
2.75%
2.75%
2.75%
2023-07-06
07:00 AM
Interest Rate Decision
3%
3%
3%
3.0%
2023-09-07
07:00 AM
Interest Rate Decision
3%
3%
3.0%
2023-11-02
07:00 AM
Interest Rate Decision
Related
Last
Previous
Unit
Reference
Interest Rate
3.00
3.00
percent
Aug 2023
Money Supply M1
594210.60
603368.00
MYR Million
Jul 2023
Money Supply M0
146402.16
147805.76
MYR Million
Jul 2023
Money Supply M2
2291247.87
2297528.09
MYR Million
Jul 2023
Money Supply M3
2300317.30
2306319.14
MYR Million
Jul 2023
Foreign Exchange Reserves
112946.64
111408.85
USD Million
Jul 2023
Banks Balance Sheet
3408541.75
3425290.47
MYR Million
Jul 2023
Loans to Private Sector
2255509.76
2246420.26
MYR Million
Jul 2023
Cash Reserve Ratio
2.00
2.00
percent
Aug 2023
Central Bank Balance Sheet
627661.44
622477.94
MYR Million
Jul 2023
Malaysia Interest Rate
In Malaysia, the interest rate decisions are taken by The Central Bank of Malaysia (Bank Negara Malaysia).The official interest rate is the Overnight Policy Rate.
Actual
Previous
Highest
Lowest
Dates
Unit
Frequency
3.00
3.00
3.50
1.75
2004 – 2023
percent
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Interest Rate by Country
News Stream
Malaysia Keeps Rates Steady
The central bank of Malaysia kept its overnight policy rate steady at 3% in July, following a 25bps rate hike in May, saying the monetary policy stance is slightly accommodative and remains supportive of the economy.Policymakers noted that headline inflation continued to ease while the core rate remains elevated.For the second half of 2023, both headline and core inflation are projected to trend lower.Risks to the inflation outlook remain highly subject to the degree of persistence in core inflation, changes to domestic policy on subsidies and price controls, as well as global commodity prices and financial market developments.Meanwhile, growth for the remainder of the year is likely to continue to be driven by resilient domestic demand.
Household spending continues to be underpinned by favourable labour market conditions, particularly in the domestic-oriented sectors.
2023-07-06
Central Bank of Malaysia Raises Rates
The central bank of Malaysia unexpectedly raised its key overnight policy rate (OPR) by 25bps to 3% on May 3rd, 2023, marking the first increase since November and pushing borrowing costs to the highest level since 2019 due to looming inflation risks.While the markets were hoping for steady rates, policymakers emphasized the resilience of domestic growth prospects and deemed it necessary to normalize the degree of monetary accommodation further and withdraw the monetary stimulus aimed at addressing the COVID-19 crisis.
Both headline and core inflation are projected to moderate to an average of 2.8%-3.8% this year, while GDP growth is anticipated to be driven by domestic demand.The ceiling and floor rates of the OPR corridor have been lifted to 3.25% and 2.75%, respectively.
2023-05-03
Malaysia Leaves Rates Steady
The central bank of Malaysia left its key overnight policy rate at 2.75% for the second consecutive meeting in March 2023, in line with expectations, as policymakers consider the current stance of monetary policy remains accommodative and supportive of economic growth.However, the central banks raised concerns regarding an expected slowdown in global growth.The Malaysian economy is expected to moderate in 2023 amid a slower global economy while domestic demand will remain the key driver.The government expects economic growth of 4.5% in 2023, down from a 22-year high of 8.7% in 2022.
Meanwhile, the central bank expects inflation are expected to moderate over the course of 2023, but to continue elevated amid lingering demand and cost factors.
2023-03-09
Related
Malaysia Manufacturing Shrinks for 12th Month
Malaysia Producer Prices Fall the Least in 5 Months
Malaysia Leading Index Falls 0.5% in June
Malaysia Inflation Rate at Near 2-Year Low
Malaysia Imports Shrink at Softer Pace
Malaysia Exports Fall for 5th Month
Malaysia Trade Surplus Below Estimates
Malaysia Current Account Surplus Widens in Q2
Malaysia Q2 GDP Growth Weakest in Near 2 Years
Malaysia Jobless Rate Falls to 3.4% in June
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