热门标签

欧博体育app官网:Bank Negara Malaysia clears the air on interest rate hikes

时间:1个月前   阅读:7   评论:2

欧博体育app官网www.aLLbet8.vip)是欧博集团的官方网站。欧博体育app官网开放Allbet注册、Allbe代理、Allbet电脑客户端、Allbet手机版下载等业务。

EFFECTIVE monetary policy is not just about raising or lowering interest rates by the right amount at the right time, it is much more about effective communication of the reasons why interest rates are changing.

Credible, accountable and transparent policy announcements help people to feel confident that the changes in policy are properly justified.

Yesterday, Bank Negara Malaysia (BNM) provided a very clear explanation of its decision to raise the overnight policy rate (OPR) by 0.25% for the second time in two months.

In the spirit of greater transparency, the publication of the monetary policy statement was followed by an open and detailed briefing for economists and analysts, which cleared the air on many issues that have been of concern.

First, we learned that BNM is more confident about the recovery in Malaysia based on indicators such as employment, wages and opening up of key sectors including tourism.

The broad base of the recovery and the oncoming impact of EPF withdrawals for example, also add to its view that the recovery is and will be more robust.

As such, it is maintaining the positive forecasts for growth in the range 5.3-6.3%.

It is also realistic about external headwinds including the impact from rising international and local cost pressures, the military conflict in Ukraine and the strict containment measures in China, which pose risks but do not fundamentally reduce its baseline projections.

,

皇冠现金网appwww.hg108.vip)是一个开放皇冠现金网代理APP下载、皇冠现金网会员APP下载、皇冠现金网线路APP下载、皇冠现金网登录APP下载的皇冠现金网平台。皇冠现金网APP上最新登录线路、新2皇冠现金网更新最快。皇冠现金网APP开放皇冠现金网会员注册、皇冠信用网代理开户等业务。

,

Second, we learned that BNM is not targeting inflation with these interest rate hikes but is taking a more holistic view consistent with its wider mandate.

Its inflation forecasts are maintained at 2.2-3.2% for headline inflation and 2-3% for core inflation, and so there are no particular or new inflationary concerns to be targeted with higher interest rates.

In particular, according to BNM’s analysis, higher consumer and business demand will not cause demand-pull inflation because of excess supply capacity.

As demand rises the slack in supply will be taken up without a rise in prices. So although the prices of some items may remain high, we will not see prices increasing as much in the future.

We also learned that BNM maintains its long-held position that changes in interest rates are not caused by, ‘following the Fed’ or ‘chasing the exchange rate’.

BNM confirmed it has no exchange rate target and cannot influence the level of the exchange rate systematically.

At best, it can moderate short-term volatility but they cannot use interest rates and exchange rates to influence domestic inflation, for example. This is clear and correct.

Third, its main argument for raising the OPR is to recalibrate interest rates across the economy.

In the face of a more robust recovery, it calculates that we no longer need the low interest rates necessary in the recent crisis and that the economy can now afford higher rates without jeopardising growth. In a sense this is a statement of confidence in its growth forecasts.

上一篇:三公洗牌控牌手法(www.eth108.vip)

下一篇:Telegram怎么搜索群聊:Ford to cut thousands of jobs in transition to electric, say reports

网友评论

  • 2022-11-08 00:22:00

    这方宝地怎么使用,引起了各方热烈讨论。如果建商务办公楼宇,租金、税收自然不菲。但不能光算经济账,更要看社会价值、整体价值、长远价值,服务人民群众的公共文化需求,服务城市软实力的提升。最终,浦东新区确定:作为上海国际金融中心核心承载区的陆家嘴金融城,需要一座高品质、有内涵、瞄准世界一流的文化艺术场馆。这块核心宝地就此“一锤定音”——打造一座占据陆家嘴C位、面向世界敞开怀抱的美术馆。小伙伴看呆了

    • 2022-12-17 10:37:43

      @telegram群组(www.tel8.vip)

      Bị triệu tập vi đánh bạc online(www.vng.app):Bị triệu tập vi đánh bạc online(www.vng.app) cổng Chơi tài xỉu uy tín nhất việt nam。Bị triệu tập vi đánh bạc online(www.vng.app)game tài Xỉu đánh bạc online công bằng nhất,Bị triệu tập vi đánh bạc online(www.vng.app)cổng game không thể dự đoán can thiệp,mở thưởng bằng blockchain ,đảm bảo kết quả công bằng.
      十分给力啊,好站