Bank Negara Malaysia Maintains OPR at 3% Amid Positive Economic Outlook
Bank Negara Malaysia's Monetary Policy Committee (MPC) has decided to maintain the Overnight Policy Rate (OPR) at 3%, citing a supportive domestic and global economic environment. Globally, resilient labor markets, moderating inflation, and less restrictive monetary policies are expected to sustain growth, with trade recovery bolstered by electrical and electronics (E&E) and non-E&E products. Malaysia's economy continues to perform well, driven by robust domestic spending, higher exports, and progress in public and private investment projects. Key drivers include the global tech upcycle, strong non-E&E exports, and increased tourism. Budget 2025 measures and structural reforms further strengthen the growth outlook, although risks remain from potential external demand slowdowns and geopolitical tensions. Headline and core inflation have been modest, averaging 1.8% year-to-date, and are projected to remain manageable in 2025 due to easing global cost pressures and stable domestic demand. However, inflation risks could rise depending on global commodity prices and domestic policy implementations. The ringgit's performance is influenced by external factors, but narrowing interest rate differentials and positive economic prospects are expected to support its stability. The MPC emphasized its commitment to ensuring monetary policy remains conducive to sustainable growth and price stability, with six meetings planned in 2025 to assess economic and inflation developments.
Date: Nov. 6, 2024
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KL Ranked Second-Best City in Southeast Asia by Oxford Economics for 2024
Kuala Lumpur has been ranked the second-best city in Southeast Asia by the Oxford Economics Global Cities Index 2024, placing 135th globally out of 1,000 cities. The ranking evaluates cities based on economy, human capital, quality of life, environment, and governance. KL stands out particularly in human capital, where it ranks 21st globally. The index also ranks Singapore as the top city in Southeast Asia, while New York leads the global list.
May 21, 2024
Tags: Kuala_Lumpur , Malaysia
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Penang and Kuala Lumpur Among Asia’s Top Cities for Expats in 2024
A study by Preply has ranked Penang and Kuala Lumpur among the top cities in Asia for expatriates to live and work. Penang secured 4th place, while Kuala Lumpur ranked 6th, based on criteria like cost of living, safety, and ease of learning the local language. The study highlights Penang's strong appeal to expats for its affordability and cultural richness.
Globally, Kuala Lumpur was ranked 12th, dropping from its top spot in 2022, yet it remains a favored destination for expats, praised for its vibrant urban life and accessibility.
May 15, 2024
Tags: Kuala_Lumpur , Penang
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