Moody’s Analytics: Malaysian economy to expand 1.1% QoQ in March


MOODY’S Analytics foresees the Malaysian economy forecast to have expanded 1.1% quarter on quarter (QoQ) in March following a 6.6% expansion in the prior quarter.

Its economists said Bank Negara Malaysia is also expected to keep its benchmark policy rate steady at 1.75% at its May meeting.

“The gains from a robust external position have largely extended into the opening months of 2022. 

“Also, a lift in private consumption after an easing of Covid-19 restrictions and policy shift towards living with the virus is likely to have supported March-quarter growth,” Moody’s Analytics said in a report yesterday.

Thus, it is noted that Malaysia’s GDP in March would be the highlight of the country’s economic calendar.

However, inflation readings for April are expected to trend higher in Asia, according to the firm.

“India’s consumer price index is likely to have risen to 7.3% year-on-year (YoY) last month from 7% in March, reflecting higher food prices and elevated energy costs,” it said.

Similarly, it said consumer prices in Indonesia are also expected to pick up to 3% YoY in April from 2.6% previously.