External electronics demand to spur economy

On Bank Negara’s decision to maintain the 1.75% overnight policy rate during its Monetary Policy Committee meeting, citing the rollout of vaccines globally as well as ongoing fiscal support, Moody’s said the decision was an expected outcome from the meeting.

PETALING JAYA: The Malaysian economy is expected to be buoyed by external demand, particularly exports of electronic products to China and Singapore, amidst the global shortage of semiconductors, said Moody’s Investors Service.

In a note yesterday, Moody’s said the oil and gas industry is also expected to rebound after last year’s record low prices, providing a boost to the country as a net exporter of oil.