OCBC forecasts GDP growth to slow to 4.1%

KUALA LUMPUR: OCBC Treasury Research has forecasted Malaysia’s gross domestic product growth to slow to 4.1 per cent year-on-year (y-o-y) in the second quarter to the fourth quarter this year (2Q-4Q 2023) from 5.6 per cent in 1Q as an external sector slowdown remained underway.

"Slowing growth alongside moderating inflation will keep Bank Negara Malaysia (BNM) on hold, in our view. BNM will, however, maintain a clear hawkish bias,” it said in a research note today.