Friday, July 11, 2014

BNM Watch: OPR Raised To 3.25%, Market Yawns

It was so blatantly telegraphed after the last MPC meeting, the disappointing thing would be if they didn’t go through with it (excerpt):

Monetary Policy Statement

At the Monetary Policy Committee (MPC) meeting today, Bank Negara Malaysia decided to raise the Overnight Policy Rate (OPR) by 25 basis points to 3.25 percent. The floor and ceiling rates of the corridor for the OPR are correspondingly raised to 3.00 percent and 3.50 percent respectively....

Monday, July 7, 2014

May 2014 External Trade: Defying Gravity

When is the trade engine going to lose steam? I honestly don’t know (log annual and monthly changes; seasonally adjusted):


Wednesday, July 2, 2014

Even Billionaires Are Complaining About Inequality

Li Ka Shing is losing sleep (excerpt):

Sleepless in Hong Kong

...I am 85 years old going on 86. I feel blessed to have seen more in life than I could remember, and happy to remember more than I have seen; so why am I sleepless in Hong Kong?

I fear that widening inequality in wealth and opportunities, if left unaddressed could fast become ‘the new normal’. Inequality is perhaps inevitable as some are simply better able than others to capture the opportunities that globalisation and the knowledge economy affords.

I fear that intensifying resource scarcity will pose challenges of immense proportions to our future.

We need to act now to turn challenges into opportunities. Technology is no panacea, but we need technological and innovative interventions to increase our options.