Business | Economy
Malaysia expects 7% inflation this month
Malaysia's inflation could reach seven per cent in June and July, but the rate should not exceed five per cent for whole of 2008, Second Finance Minister Nor Mohammad Yakcop said on Monday.
- Reuters
- Published: 00:07 July 22, 2008
Kuala Lumpur: Malaysia's inflation could reach seven per cent in June and July, but the rate should not exceed five per cent for whole of 2008, Second Finance Minister Nor Mohammad Yakcop said on Monday.
"Inflation for the months of June and July... will be slightly high, maybe seven per cent or so, or even higher," Nor Mohammad told reporters.
"For the year as a whole it will be contained. My own expectation is not more five per cent," he said.
Earlier this month, the central bank said annual inflation probably topped six per cent in June, and some economists predicted it would raise interest rates if inflation did reach that level.
Interest rates
But Nor Mohammad was non-committal on any change in interest rates.
"The government's policy on interest rates, as we all know, is that it should be accommodative to promote growth. And we leave it at that," the minister said.
Business Editor's choice
-
Do unemployment figures flatter to deceive?
Jobseekers and recruiters give out mixed signals ranging from optimism to downright despair even as official data show recovery
-
Banks can increase their share
Longer opening hours, more locations outside cities and lower charges can help
-
Geepas idea blossomed in Dubai
The journey led from a small shop in Bahrain to a $1.27b company in the UAE
