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The latest hike in interest rate by Bank Negara is not expected to dampen the economy, said governor Tan Sri Dr Zeti Akhtar Aziz.
Malaysia has no plans to change the composition of its foreign exchange reserves in the light of a recent Chinese statement indicating a revision by Beijing, Bank Negara governor Tan Sri Zeti Akhtar Aziz said yesterday.
About 40% of portfolio inflows have been converted into longer term three- to five-year papers, said Bank Negara governor Tan Sri Zeti Akhtar Aziz.
Effective Feb 1, banking institutions will be required to provide #8220;basic banking services#8221; to Malaysians at minimal costs, Bank Negara governor Tan Sri Dr Zeti Akhtar Aziz said.
In the second and final part of the interview with Bank Negara Governor Tan Sri Zeti Akhtar Aziz, she speaks on the continued solid and steady growth of the economy, with the private sector very much in the lead. She also reviews the performance of several growth sectors and touches on concerns over the ringgit peg.
The banking sector has come a long way since the launch of the Financial Sector Master Plan that envisaged the formation of banking groups of a certain size and strength. In her interview of the sector's performance and prospects, Bank Negara Governor TAN SRI ZETI AKHTAR AZIZ looks at the progress charted: new trends and growth areas. She sees that regional expansion is encouraged for the larger banks and shares further details on the liberalisation of the islamic sector.