A Goldilocks Economy That Needs To Heat Up

Malaysia’s GDP growth unexpectedly fell to 2.9% in the second quarter of 2023, in contrast to the 5.6% growth for the first quarter of the year. External trade has also declined and despite headwinds from slower global growth, Bank Negara reaffirms that domestic demand will remain resilient. We speak to Julia Goh, Senior Economist at UOB to get an analysis on Malaysia’s economic health, the outlook for the rest of 2023 and whether BNM will increase the OPR in the next MPC.

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