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KL to look beyond monetary policy as it faces tariff disputes
The Straits Times
|April 10, 2025
Bank Negara Malaysia says the country is in position of strength
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KUALA LUMPUR - Malaysia's central bank is looking beyond monetary policy to weather the fallout from US President Donald Trump's actions, arguing that the country is entering the tariff disputes from a position of strength.
Strong investment activity, resilient domestic demand and diversified trade partners will help provide some support to the economy, Bank Negara Malaysia (BNM) governor Abdul Rasheed Ghaffour said in a Bloomberg TV interview.
Policymakers also have numerous policy tools to mitigate the impact of sweeping US tariffs.
"Monetary policy cannot resolve trade wars. It's not the best tool to do it," he said on April 9. "What's important for us is what's the mandate that we want. We want to achieve price stability that provides sustainable economic growth to the country."
Dit verhaal komt uit de April 10, 2025-editie van The Straits Times.
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