Public Investment Bank: Malaysia’s economic growth to reaccelerate in 2Q21 | Malay Mail

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KUALA LUMPUR, May 7 — Malaysia’s economic growth is expected to reaccelerate in the second half of the year following the lag impact of expansionary fiscal and monetary strategy, said Public Investment Bank Bhd. The investment bank said overall sentiment would also be boosted by the rapid...

Friday, 07 May 2021 12:30 PM MYT

“This could trigger a recovery in contact-sensitive sectors like tourism and services on top of sustained output generation by key sectors like manufacturing, construction and agriculture, thanks to the decision to allow uninterrupted operation of these sectors,” it said in a research note today. On Thursday, the overnight policy rate was left unchanged by the Monetary Policy Committee — a decision that was in line with the bank’s and market’s expectations.

“The data-dependent strategy by the central bank following the lag impact of stimulus spending and accommodative interest rate environment should see the OPR remaining steady in the first half of the year,” it added. “The impending start of US-China trade talks is also a going concern as the negotiation period is expected to be a lengthy one though the start of it has been deferred,” said the investment bank.

Moody’s Analytics said despite the vaccination programme, downside risks stemming from the threats of Covid-19 outbreaks and renewed lockdowns are more elevated, threatening Malaysia’s economic recovery.

 

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