Macro - Country Economic Forecasts - Malaysia
We have raised our 2024 GDP growth forecast for Malaysia by 0.9ppts to 4.4%. Revised Q2 GDP data suggest Malaysia's economy grew by 2.9% q/q on a seasonally adjusted basis, capping a robust H1. That said, we expect momentum to moderate as the one-off factors which boosted growth in the first half of the year unwind. Meanwhile, although currency pressures have abated, possible upside price pressures are growing. As such, monetary policy settings are unlikely to change through 2025.
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