Malaysia's CB holds key rate, upbeat on growth prospects

Malaysia's central bank kept its benchmark interest rate unchanged for the fourth straight meeting on Thursday, maintaining an upbeat tone on the country's growth prospects despite risks from the ongoing conflict in the Middle East.

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Bank Negara Malaysia kept its overnight policy rate at 2.75 per cent, as had been predicted by all 30 economists surveyed in a Reuters poll.

BNM said in a statement that it considers its monetary policy stance to be appropriate and supportive of the economy, though it acknowledged uncertainties from the war in Iran.

"The impact to the global and Malaysian economy will depend on how these developments evolve. The Malaysian economy is facing these challenges from a position of strength, with robust domestic growth, moderate inflation, sound financial sector and resilient external position," the statement said.