News about bn

Thursday's decision to maintain the OPR at 2.

This is the second consecutive time the central bank maintained its benchmark interest rate after four straight hikes last year by a cumulative 100 basis points to tame inflation and respond to tightening fiscal policy by the US Federal Reserve.

Local Government Development Minister Nga Kor Ming said the guidelines and regulations will be included in the Cabinet Ministers Memorandum paper, led by the Ministry of Tourism, Arts and Culture, to deal with issues that occur at the operational and implementation levels of short-term rental accommodation KUALA LUMPUR (Feb 22): The government is working on a comprehensive short-term rental accommodation (STRA) guide that will be adopted by all local governments in Malaysia, said Local Government Development Minister Nga Kor Ming (pictured).

“In Penang, for example, the blanket ban that they proposed is probably a regulation that doesn’t make a lot of sense because there have to be ways in which challenges can be managed without an activity being banned, which is why we are suggesting that the existing Strata Management Act 2013 (SMA2013) be used at a building level to pass bylaws that are suited for the specific buildings instead.

“The current guidelines proposed by the Penang government in July 2022 pose severe constraints on domestic and international travel to Penang; and will be detrimental to the state’s tourism industry and long-term economic growth.

Fitch Solutions said while core inflation remains on a firm uptrend, the headline inflation is expected to stay above the central bank’s target at least through the first half of the year, especially with negative real interest rates.

BNM said the country's growth in 2023 is expected to moderate amid a slower global economy, likewise the headline and core inflation figures — though the latter two will remain elevated amid lingering demand and cost pressures.

“Following a likely January hike, we expect a pause in March, before another 25bps hike in May, assuming the government announces some form of subsidy adjustments for the second half of 2023.

Moody’s expects the local economy to slow in 2023 given external demand for its manufactured goods has weakened, mainly due to the slowing Chinese economy KUALA LUMPUR (Dec 30): Economists expect more overnight policy rate (OPR) hikes to combat inflationary pressures in 2023, with CGS-CIMB expecting two more 25-basis-point increases to 3.

The year is almost out as 2023 gets ready to take its place.