KUALA LUMPUR: Bank Islam Malaysia Bhd expects Bank Negara Malaysia (BNM) to cut its overnight policy rate (OPR) by 25 basis points (bps) at the upcoming Monetary Policy Meeting scheduled for March 4. Chief economist Dr Mohd Afzanizam Abdul Rashid said the reduction projection was due to the visibility of economic uncertainties following the reintroduction […]
Read MorePETALING JAYA: The unemployment rate, which stood at 4.8% in December last year, is expected to remain elevated in the first half of the year. BIMB Securities said it foresees challenges for the labour market to continue recovering in the coming months, as businesses may hold back hiring on concerns about weaker domestic demand and […]
Read MorePETALING JAYA: The services sector’s revenue increased 1.7% quarter-on-quarter (q-o-q) to RM435.9bil in the fourth quarter of 2020 (Q4) compared to Q3, said the Department of Statistics. Chief statistician Datuk Seri Dr Mohd Uzir Mahidin (pic) said the growth was driven by the wholesale and retail trade, food and beverage (F&B) and accommodation segment, which […]
Read MorePETALING JAYA: The Malaysian economy may have contracted for the third consecutive quarter, even as the country continues to struggle with the restrictive measures implemented to combat the ongoing Covid-19 pandemic. Ahead of the gross domestic product (GDP) results to be announced on Thursday, a survey by Bloomberg on economists’ forecasts indicates that the GDP […]
Read MoreKUALA LUMPUR: Malaysia’s economy is estimated to have contracted by 2.8% in 4Q 2020, amid the restrictions imposed under the conditional movement control order (CMCO), according to RAM Ratings. It said on Tuesday, this will be the third consecutive quarter of contraction in 2020, leading to a 5.4% contraction for the year, compared with the […]
Read MoreKUALA LUMPUR: Malaysia’s economic slump is expected to have deepened in the fourth quarter due to sustained restrictions on movement and business to curb the spread of the coronavirus, a Reuters poll showed on Tuesday. The median estimate of 12 economists pointed to the economy shrinking 3.1% in the October-December quarter from a year ago, […]
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