KL won't raise interest rates

KL won't raise interest rates

KUALA LUMPUR: Malaysia won't increase its domestic interest rates
in the near term despite the move by the U.S. Federal Reserve
Wednesday in raising key U.S. rates, the New Straits Times
reports.

"I don't think Bank Negara Malaysia (the country's central
bank) has any immediate plans to raise interest rates," the
newspaper quoted Malaysia's Second Finance Minister Nor Mohamed
Yakcop as saying late Friday.

Nor Mohamed said Malaysia will stick to its low interest rate
policy for the time being.

Malaysia's central bank has repeatedly said it will maintain
accommodative monetary policy to boost economic activity.--DJ