BERNAMA.com - BNM expects prices of goods and services to decline after GST reduction
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BNM expects prices of goods and services to decline after GST reduction

Last update: 17/05/2018
 
KUALA LUMPUR, May 17 (Bernama) --Bank Negara Malaysia ( BNM) expects the price of goods and services to decline following the new government's announcement to reduce the Goods and Services Tax to zero per cent on June 1, 2018.

Governor Tan Sri Muhammad Ibrahim said it was important for the relevant authorities to ensure that businesses pass the benefit to the public at large.

"Most likely than not it will have an impact on the inflation but it is too early for us to calculate (the inflation rate) right now.

"The inflation rate for the first quarter is set at between two and three per cent, but with the information coming in, we will look at it again.

"If need be, we will revise the rate," he reporters after announcing the first-quarter Gross Domestic Product (GDP) figures here today.....

 
 
 

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