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File pic: Dr Sailesh K. Jha said Malaysia’s fiscal, monetary and Covid-19 policy frameworks are calibrated appropriately to provide a floor on economic activity in case any downside risks to growth emerge in the next few quarters. PETALING JAYA: While there is some softening in economic activity, the current movement control order (MCO 3.0), along with the National Recovery Plan (NRP), should see the country on the path to recovery in the second half of the year. RHB Bank Bhd group chief economist and head, market research, Dr Sailesh K. Jha said Malaysia’s fiscal, monetary and Covid-19 policy frameworks are calibrated appropriately to provide a floor on economic activity in case any downside risks to growth emerge in the next few quarters. ....
(Bloomberg) Malaysia’s new national lockdown to fight a surge in Covid cases could shave as much as two percentage points off economic growth this year, according to analysts’ estimates. ....
KUALA LUMPUR (Jan 19): Economists see less pressure for Bank Negara Malaysia (BNM) to cut its overnight policy rate (OPR) at the Monetary Policy Committee (MPC) meeting tomorrow its first for the year, following the announcement on the RM15 billion Perlindungan Ekonomi dan Rakyat Malaysia (PERMAI) assistance package by the government yesterday. JP Morgan economist Milo Gunasinghe said in a note today that while the risk of a cut has increased, he expects the central bank to remain on hold this week given the relief measures announced, the short duration of movement control order (MCO) restrictions and a limited policy rate transmission mechanism. ....
KUALA LUMPUR (Jan 19): The main index at Bursa Malaysia pared some of its gains at the midday break Tuesday as broader market sentiment appeared lukewarm to the government’s RM15 billion Perlindungan Ekonomi dan Rakyat Malaysia (Permai) assistance package. At 12.30pm, the FBM KLCI was up 2.78 points to 1,612.30. The index had earlier climbed to a high of 1,618.41. Declining issuers led advancers by 370 to 365, while 728 counters traded unchanged. Trading volume was 4.16 billion shares valued at RM2.50 billion. The gainers included Nestle (M) Bhd, Toyo Ventures Holdings Bhd, Milux Corp Bhd, PMB Technology Bhd, Khind Bhd, Samaiden Group Bhd and Carlsberg Brewery Malaysia Bhd. ....
RHB Investment Bank Bhd (RHB IB) has revised Malaysia’s 2021 growth domestic product (GDP) forecast downward to 5.4%, from 6.3% previously, due to the re-implementation of the Movement Control Order (MCO 2.0) by the government recently. ....