Malaysia's economy loses momentum in Q3, but outlook intact

KUALA LUMPUR: Malaysia's economy grew at its slowest pace in a year in the third quarter as exports faltered, but the central bank said growth will remain positive and maintained its outlook for 2019.

Malaysia was the only Southeast Asian nation to record an acceleration in economic growth in the April-June quarter from the previous quarter, though growth slowed in the second half from a contraction in exports. Shipments slumped to their lowest in nearly three years in September. Asked if there was any chance of a rate cut next year, BNM Governor Nur Shamsiah Mohd Yunus said it was something the monetary policy committee would constantly monitor."We are not on any preset course," she told reporters."We continue to monitor external developments and how it affects our outlook for growth and inflation. And we will always be data dependent.

The ringgit fell 1.1 per cent against the US dollar in the third quarter, which BNM attributed to heightened risk aversion amid the protracted Sino-US trade war.

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