Bank Negara Malaysia released its Annual Report 2023 on Wednesday, together with two other flagship publications — Economic and Monetary Review 2023, and Financial Stability Review for 2nd Half 2023 — in which the central bank shared its assessments on the nation's economy and financial system, current and potential risks, and actions taken to manage them.

10 key charts from BNM's Annual Report 2023

Malaysia will not be facing a balance of payment crisis, the central bank said on Wednesday, after the current-account surplus narrowed sharply to its lowest in 26 years.

Current-account surplus is expected to improve in 2024, mainly driven by growth in the tourism sector and export recovery this year, Bank Negara Malaysia’s deputy governor Marzunisham Omar told reporters following the release of the central bank’s annual report.

Malaysia will avoid balance of payment crisis as current-account surplus widens, BNM says

Malaysia has a “window of opportunity” to undertake the necessary structural reforms on the back of steady economic growth projections, coupled with moderating and stable inflationary pressures, said Bank Negara Malaysia governor Datuk Shaik Abdul Rasheed Abdul Ghaffour.

Malaysia has window of opportunity for structural reforms amid growth rebound and stable inflation, says BNM governor

Bank Negara Malaysia (BNM) strongly urged Malaysian businesses from all sectors to repatriate their overseas investment income and convert export proceeds back to ringgit to support the central bank's efforts to manage short-term pressure on the local currency.

BNM finds rising foreign currency holdings, widens calls for repatriation to bolster ringgit

KUALA LUMPUR (March 20): Bank Negara Malaysia expects wages to increase further in 2024 following slowdown last year, while the jobless rate will likely remain stable near its past trend.

Wages to increase further in 2024, jobless rate to stay stable, says BNM

The upcoming Consumer Credit Act (CCA), aimed to promote responsible practices among credit lending activities, does not address credit scoring services provided by credit reporting agencies (CRAs).

Credit scores have 'useful purpose', not addressed in Consumer Credit Act, says BNM deputy governor

KUALA LUMPUR (March 20): The impact of reform measures such as subsidy rationalisation are temporary in measure and as such, do not require monetary policy intervention, said Bank Negara Malaysia (BNM) on Wednesday.

Subsidy reform measures do not require monetary policy intervention, says BNM governor

Malaysia’s current-account surplus in the balance of payment is expected to improve this year following a sharp decline to a 26-year low in 2023, Bank Negara Malaysia (BNM) said.

BNM projects current-account surplus to improve this year after hitting 26-year low in 2023

KUALA LUMPUR (March 20): The profitability of insurance and takaful funds declined in the second half of 2023 (2H2023) due to larger net underwriting losses of life insurance and family takaful funds as a result of an increase in medical claims payments, said Bank Negara Malaysia (BNM).

BNM: Insurance and takaful funds’ profit dropped in 2H2023 as payments of medical claims increased

KUALA LUMPUR (March 20): Malaysian banks remain well-capitalised to absorb unexpected shocks and support financial intermediation in the economy, according to Bank Negara Malaysia.

BNM: Malaysia’s banking system remains well-capitalised, resilient against liquidity shock

Bank Negara Malaysia (BNM) has pledged a monetary policy stance supportive of the economy, even as the central bank flagged potential risks to inflation and growth as the government tightened its budget for subsidies.

BNM pledges supportive monetary policy, flags risks to inflation, growth

Bank Negara Malaysia (BNM) recorded a marginal growth of 2.4% in its net profit after tax (PAT) to RM7.16 billion for the financial year ended Dec 31, 2023 (FY2023), against RM6.99 billion in FY2022, according to its annual report released on Wednesday.

BNM records marginal 2.4% growth in PAT to RM7.16b in FY2023

Get the key takeaways of the BNM Annual Report 2023 here.

Highlights of the BNM Annual Report 2023

The movement of the ringgit, which depreciated by 3.9% against the US dollar and by 3.7% against major trade partners in nominal effective terms, in recent times neither reflects the country’s economic fundamentals nor positive economic prospects, said Bank Negara Malaysia (BNM) in its Economic and Monetary Review 2023 report.

BNM: Ringgit fundamentally undervalued, will remain vulnerable to advanced economies' monetary policy trajectory

It is now clear that US President Donald Trump’s administration will betray Ukraine in its fight to resist Russian aggression. Trump himself is either a victim of disinformation, or he is a willing participant in an effort to deceive Americans about the causes and consequences of the war.

...

Unconventional Economic Wisdom: Europe’s Powerful Tool Against Russia

Mark Carney has been sworn in as Canada’s 24th prime minister, bringing the former central banker to power in the middle of an explosive trade war with the US.

New Canadian PM Carney says there’s progress in US trade talks

US Vice President JD Vance said he expected President Donald Trump to wrap up a deal for TikTok and keep the popular video-sharing app operating in the US ahead of a deadline next month.

Vance tells NBC ‘high-level’ TikTok deal expected by April deadline

EDGE WEEKLY: Dispelling aspersons surrounding EPF’s 6.3% dividend for 2024

The Trump administration said it was optimistic about the possibility of a ceasefire in Ukraine, even as President Vladimir Putin appeared to reject US calls for immediate halt to the violence.

Trump optimistic about Ukraine ceasefire even as Putin balks

The Senate passed a Republican spending plan on Friday, averting a US government shutdown hours before a midnight deadline while exacerbating a furious struggle within the Democratic party over how to confront President Donald Trump.

US averts govt shutdown as Senate passes GOP spending bill

Apple Inc’s top executive overseeing its Siri virtual assistant told staff that delays to key features had been ugly and embarrassing, and a decision to publicly promote the technology before it was ready made matters worse.

Apple’s Siri chief calls AI delays ugly and embarrassing, promises fixes

Incoming Intel Corp chief executive officer Lip-Bu Tan, who was named to the position this week, will receive compensation valued at about US$69 million (RM306.71 million) if he reaches targets over the coming years.

Intel’s new CEO gets pay package valued at about US$69m

Trade wars, tariffs and sanctions have been transformed from economic tools into weapons in a broader struggle for dominance, fostering an atmosphere of suspicion and distrust that is eroding the foundations of international cooperation, according to Prime Minister Datuk Seri Anwar Ibrahim.

Trade wars, tariffs and sanctions weaponised in broader struggle for dominance, says Anwar

US equities followed European stocks higher on Friday to end a bumpy week on a positive note, although safe-haven gold hit a record high, with investors still showing some signs of anxiety about the economic impact of tariffs.

Stocks rebound after S&P 500 correction; safe-haven gold touches record

Ailing oil and gas player&nbsp;Sapura Energy Bhd (KL:SAPNRG) has been in the news over the past week, but none of the flashes seem to paint a rosy picture of the company.

Rescue mission for Sapura Energy

Incoming Intel Corp chief executive officer Lip-Bu Tan, who was named to the position this week, will receive compensation valued at about US$69 million (RM306.71 million)&nbsp;if he reaches targets over the coming years.&nbsp;

Trade wars, tariffs and sanctions have been transformed from economic tools into weapons in a broader struggle for dominance, fostering an atmosphere of suspicion and distrust that is eroding the foundations of international cooperation, according to Prime Minister Datuk Seri Anwar Ibrahim.

Malaysia will fortify its position as a centre of competitive trade, finance, and technology amid global changes, says Prime Minister Datuk Seri Anwar Ibrahim.

Malaysia to fortify position as centre of competitive trade, finance and technology — Anwar

US&nbsp;equities followed European stocks higher on Friday to end a bumpy week on a positive note, although safe-haven gold hit a record high, with investors still showing some signs of anxiety about the economic impact of tariffs.

Apple Inc’s top executive overseeing its Siri virtual assistant told staff that delays to key features had been ugly and embarrassing, and a decision to publicly promote the technology before it was ready made matters worse.

The Trump administration said it was optimistic about the possibility of a ceasefire in Ukraine, even as President Vladimir Putin appeared to reject US calls for immediate halt to the violence.

Mark Carney has been sworn in as Canada’s 24th prime minister, bringing the former central banker to power in the middle of an explosive trade war with the US.

The Senate passed a Republican spending plan on Friday, averting a US government shutdown hours before a midnight deadline while exacerbating a furious struggle within the Democratic party over how to confront President Donald Trump.&nbsp;

US Vice President JD Vance said he expected President Donald Trump to wrap up a deal for TikTok and keep the popular video-sharing app operating in the US ahead of a deadline next month.

It is now clear that US President Donald Trump’s administration will betray Ukraine in its fight to resist Russian aggression. Trump himself is either a victim of disinformation, or he is a willing participant in an effort to deceive Americans about the causes and consequences of the war.

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BNM Annual Report

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