KUALA LUMPUR (Thomson Financial) - Malaysia's central bank said on Wednesday it will keep a close eye on rising prices, especially energy prices, in an effort to curb inflation.
But the bank expects the inflation rate to remain manageable going forward because the rising prices were not caused by a spike in demand.
"We are starting at a low level of inflation that is less than 2 percent, which is one of the lowest in the region," said Bank Negara Malaysia governor Zeti Akhtar Aziz.
"Of course as prices adjust it will affect our overall inflation, but we are also operating below full capacity utilisation and investment is increasing quite significantly," she said. "As a result we are not seeing demand-induced pressures (on inflation)."
Zeti said the price adjustments were "a result of rising costs, and this is what we will monitor."
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