fbpx
Connect with us

Social Stories

BNM Governor: Malaysia Is No Longer In Financial Crisis

Published

Feat Image Bnm Governor Statement
Source: Bernama & SCMP

Follow us on Facebook, Youtube, Twitter, and Instagram for the latest stories and updates daily.

Bank Negara Malaysia (BNM) governor Tan Sri Nor Shamsiah Mohd Yunus has assured Malaysians that our country is no longer in a financial crisis and that our nation’s economy has been absorbing the impact of the overnight police rate (OPR) hike relatively well. In reference to the said OPR hike, Shamsiah said that the momentum in term of the repayment of loans has not been impacted.

As reported by national news agency Bernama, Shamsiah made the comments in reference to Malaysia’s second quarter (Q2) 2022 gross domestic product (GDP) performance yesterday in a joint press conference by BNM and the Department of Statistics Malaysia (DOSM). The BNM governor asserted,

“It is very clear that we are no longer in a crisis. Growth continues to be supported by firm domestic demand amid better labour conditions, recovery in tourism activity, and improved investment activities and prospects,”

Ddc76E38 C074 4B6A A65F Fdea867D9D25

Previously, the central bank had increased the OPR by 50 basis points in two consecutive meetings in May and July this year. Referencing the hikes, Shamsiah said that the first increase in May was due to the large support needed during the pandemic was no longer warranted. She further elaborated that the condition has remained unchanged as the economy continues on the recovery path with the growth of 6.9% in the first half of the year.

The BNM government noted that the recent OPR adjustments wold also preemptively manage the risk of excessive demand on price pressures. She also reminded the people that Malaysia has a historically low OPR level and that despite the adjustments, monetary policy would remain accommodative this year to support economic recovery.

Shamsiah stressed that BNM is committed to adjusting the monetary policy in a gradual manner as the country is on a recovery path.

So, what do you guys think of the statement by the BNM governor? Share your thoughts with us in the comments!

 

Also read: PM: Malaysia’s Inflation Rate Is The Lowest In Southeast Asia Thanks To Government’s Intervention

Feat Image Malaysia Inflation Rate Lowest Sea

Source: Tribunnews

Follow us on Facebook, Youtube, Twitter, and Instagram for the latest stories and updates daily.



Just In

My Post 3 2024 03 19T163126.615 My Post 3 2024 03 19T163126.615
News47 mins ago

“Is that a threat?” – Rafizi Ramli Bashed for Telling M’sians to Register for PADU or Lose Out on Govt Aid

It’s no secret that the government is doing their best to encourage all Malaysians to register for the Central Database...

Collage 3 8 Collage 3 8
News2 hours ago

44 Malaysian Tourists Allegedly Get Robbed by Tour Guide in India, Lose RM2K & 10 Pound Thali Chain

While the idea of travelling to a foreign country is exciting, it does come with its fair share of petty...

Collage 64 Collage 64
News6 hours ago

PKNS Files Police Report Over Fake News Claiming its 47yo Complex is Getting Demolished for New Condo

Does being developed mean more abolishment of old buildings to make way for new ones? Rumour has it that PKNS...

My Post 1 2024 03 19T103023.733 My Post 1 2024 03 19T103023.733
News7 hours ago

Melaka Introduces Cycling Paramedics that Provide First Aid Before Ambulances Arrive

We’ve been seeing multiple efforts from Melaka to improve their quality of living with the most recent being the introduction...

Collage 1 7 Collage 1 7
News8 hours ago

Kuantan Police Conducts Operation ‘Ops Samseng’ & Catches Man in Dinosaur Onesie for Speeding

People want to get where they’re going quickly. So if you exceed the speed limit by just a few miles...

Feat Image New Zealand Feat Image New Zealand
News1 day ago

New Zealand Tourists Assault Phuket Policeman & Snatch His Gun After Violating Traffic Rules, Get Arrested

A shocking incident took place in Phuket, Thailand on Saturday (16 March) involving 2 foreign tourists and a local policeman....

Feat Image Google Apology Feat Image Google Apology
News1 day ago

“For informational purposes only” – Google M’sia Apologises for USD1 = RM4.98 Error, Says Issue Now Resolved

Some 3 days after the inaccurate United States Dollar (USD) to Malaysian Ringgit (RM) exchange rate published by Google Finance...

My Post 3 2024 03 18T153531.525 My Post 3 2024 03 18T153531.525
News1 day ago

Duyong ADUN Advices National Schools to Find Companies to Invest in Their Halls Like Chinese Schools

There’s once again a debate going on on social media, mainly Twitter, where people are discussing the pros and cons...

Announcement

Latest Videos



TRENDING TODAY