Oddbean

Malaysia needs to prepare and have all the buffers to face the changing global economic environment - BNM governor ========== Bank Negara Malaysia (BNM) governor Datuk Seri Abdul Rasheed Ghaffour emphasizes the need for Malaysia to prepare for a changing global economic environment; he highlights the importance of economic diversification as a buffer against challenges; the US Presidential election is a key factor being monitored for its potential impact on Malaysia's growth; Abdul Rasheed notes that the US election rhetoric could lead to inflationary policies affecting global growth; he expresses optimism about China's economic stimulus package aiming for a growth rate of 5.0%, despite recent downgrades; Malaysia's exports are well-diversified, with 14% to China, 12% to the US, and 27% to ASEAN; he discusses Malaysia's integration into the global supply chain and opportunities in the electrical and electronics sector; interest rate decisions will depend on economic data, with the current policy rate at 3.0%; the recent US Federal Reserve rate cut is seen as beneficial for Malaysia, reducing the interest rate differential. #Malaysia #Economy #BankNegara #GlobalEconomy #Diversification #UsElection #China #InterestRates #Exports #SupplyChain https://www.nst.com.my/business/economy/2024/10/1126026/malaysia-needs-prepare-and-have-all-buffers-face-changing-global