Maybank expects the overnight policy rate (OPR) to increase between 50 and 70 basis points this year in line with signs of an improving economy, its president and chief executive officer, Datuk Seri Abdul Wahid Omar said.
He said the bank also expected gross domestic product (GDP) to grow 4.5 per cent this year and inflation to be at 2.3 per cent.
Abdul Wahid said this at a press conference here Tuesday after announcing Maybank's interim results for the half-year financial period ended Dec 31, 2009.
Last month, it was reported that Bank Negara Malaysia had decided to leave the OPR unchanged at a record low of two per cent for the seventh consecutive time amid uncertainty over the prospects of advanced economies.
In a statement issued after the first Monetary Policy Committee (MPC) meeting for this year on Jan 21, the central bank had said the growth in advanced economies would continue to depend on policy stimulus measures and the sustainability of private sector demand amid ongoing financial system resolution and reforms.
It had also said that the growth momentum in regional economies was expected to strengthen further this year, while domestic economic indicators had suggested a favourable economic expansion in the fourth quarter of 2009.
"Positive developments in manufacturing production, financing activity, external trade and labour market conditions reaffirms the assessment that the economic recovery is gaining strength," Bank Negara had said.
No comments:
Post a Comment