Bank Negara Malaysia increased its benchmark interest rate for a fourth straight meeting last week. At 2.75%, the rate remains below pre-Covid level of 3%, Zafrul said while on a campaign trail in his constituency of Kuala Selangor for the Nov. 19 general election.
Malaysia’s economic growth will provide the central bank with more room to tighten monetary policy as the Federal Reserve increases interest rates, caretaker Finance Minister Zafrul Aziz said.
Gross domestic product data to be released this week will show the economy was stronger than expected in the third quarter, he said in an interview on Saturday.
