KUALA LUMPUR, Sept 7 Malaysia's central bank
kept its key interest rate at 3.00 percent on Wednesday as
expected, saying growth remains on track despite projections of
tepid exports for the rest of the year.
Bank Negara Malaysia (BNM) said domestic demand remains the
key driver for growth, with private consumption and private
investment expanding at a faster pace and supported by wage and
"Overall, the economy is projected to expand within
expectations in 2016, and to remain on a steady growth path in
2017" the central bank said in a statement.
Eleven of 12 economists in a Reuters poll had forecast no
change to the overnight policy rate (OPR).
Economists were surprised by BNM's cut of 25 basis points at
its last meeting, on July 13. That was Malaysia's first rate
reduction in seven years.
(Reporting by Joseph Sipalan; Editing by Richard Borsuk)