PETALING JAYA: Bank Negara has kept the overnight policy rate (OPR) unchanged at its policy meeting, a day after the country held its 14th general election. In a statement yesterday, the central bank said that the prospects of economic growth remained strong, driven by the strength in both domestic and external demand. “The domestic economic outlook remains positive, the financial sector is strong and monetary and financial conditions are supportive of economic growth in the post-election environment,” it said. According to Bank Negara’s projections, Malaysia’s gross domestic product (GDP) will grow between 5.5% and 6% in 2018. The central bank expects private domestic demand to remain the anchor of growth. Last year, the country’s GDP growth accelerated to 5.9% from 4.2% in 2016. On the external front, Bank Negara said exports should continue to benefit from the positive momentum in global growth and trade in advanced and regional economies. It said that private consu...
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