Malaysian headline inflation likely accelerated marginally in December, BNM to remain on hold in 2020
Malaysian inflation data for the month of December is set to release tomorrow. According to a DBS Bank research report, the headline inflation is expected to have accelerated slightly to 1 percent year-on-year from Novem…
Malaysian inflation data for the month of December is set to release tomorrow. According to a DBS Bank research report, the headline inflation is expected to have accelerated slightly to 1 percent year-on-year from November’s 0.9 percent. Inflationary pressure is picking up. The effect from consumption tax policy changes is likely to lapse while the removal of price ceilings for fuel and some food items might prompt higher inflation. For the whole of 2020, the headline inflation is expected to average 1.6 percent.
With that, monetary policy might be sandwiched between sluggish growth and rising inflation. The fourth quarter 2019 GDP is likely to have grown 4.6 percent, slightly below the government’s target of 4.8 percent.
“And with rising inflation, there is limited room for the central bank to ease monetary policy further given the balance of risks is no longer just tilted towards growth. We expect Bank Negara to remain on hold and maintain the OPR at 3.00 percent for the rest of 2020”, added DBS Bank.
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