Malaysia Central Bank Pledges Support as GDP Forecasts Cut

Malaysia lowered its economic growth forecast for 2019, and pledged to keep monetary policy accommodative as global risks weigh on the trade-reliant economy.

Gross domestic product is expected to increase 4.3 percent to 4.8 percent in 2019, with trade tensions and lower commodity prices among the biggest wildcards, Bank Negara Malaysia said in its annual report on Wednesday. The projection marks a step down from the 4.9 percent expansion estimated in the government’s budget released in November, and compares with a 4.7 percent pace recorded in 2018.