Page 96 - Official Year Book 2019
P. 96
bal growth was also supported by
broadbased monetary policy easing in an
environment of low inflation. Major central
banks turned more accommodative towards
mid-2019 amid broadbased weakness
in growth and the materialisation of
idiosyncratic risks. After raising its Federal
Funds Rate (FFR) nine times from 2015 to
2018, the US Federal Reserve reduced the
FFR three times in 2019.1 Similarly, the
European Central Bank reduced its deposit
rate, and announced the resumption of
quantitative easing. The prospect of weaker
domestic growth conditions was also
prevalent in emerging market economies,
where policy rate reductions followed suit.
84 MALAYSIA BAHARU 2019: Official Year Book
broadbased monetary policy easing in an
environment of low inflation. Major central
banks turned more accommodative towards
mid-2019 amid broadbased weakness
in growth and the materialisation of
idiosyncratic risks. After raising its Federal
Funds Rate (FFR) nine times from 2015 to
2018, the US Federal Reserve reduced the
FFR three times in 2019.1 Similarly, the
European Central Bank reduced its deposit
rate, and announced the resumption of
quantitative easing. The prospect of weaker
domestic growth conditions was also
prevalent in emerging market economies,
where policy rate reductions followed suit.
84 MALAYSIA BAHARU 2019: Official Year Book
