Another Flaming 9% Growth

Reuters has just reported today (Aug 18) that the Malaysian economy  expanded by a flaming 8.9 per cent in the second quarter from a year ago, more than forecast as it registered the third consecutive quarter of growth.

This is higher than the 8.1 per cent growth as revealed in a  Reuters poll, though as expected, the economy has marginally slowed from the first quarter’s annual growth of 10.1 per cent.

The Malaysian economy emerged from recession in the fourth quarter of 2009 when it grew by 4.5 per cent from the fourth quarter of 2008. It contracted by 1.7 per cent in 2009 overall from the previous year.

PM Najib said an improved economic growth could also be seen based on the position of the ringgit which had shown stability compared to other currencies in Southeast Asia.

So will BNM increase the BLR by another 25 basis points come this Thursday, 19th August?