The first meeting of 2012 is scheduled for today, and I honestly don’t expect any change in the policy stance. The new data coming in isn’t bad enough to justify a rate cut, even with the continuing uncertainty in Europe. Even if we’re looking forward, the impact of a global downturn is also uncertain – we’re not seeing the same dynamics as we were in 2008-2009.
So my vote is for status quo ante. But then, BNM has been voted the most unpredictable central bank in the region, and they might pull a fast one on us yet.
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