Malaysia: Chances of rate cut growing – TD Securities

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TD Securities analysis team suggest that the chances of a rate cut in Malaysia are growing but there is no urgency to cut at present and they expect Bank Negara to wait until the November policy meeting before easing.

Key Quotes

“Economic data has held up better than some other countries in the region, with Q2 GDP growing by a stronger than expected 4.9% y/y. However, the signals ahead a less constructive, with the PMI manufacturing index remaining in contraction territory below 50. CPI inflation remains subdued giving room to ease should BNM want to pull the trigger, but we think the Bank will keep its powder dry for now.”

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