1. Bank Negara holds off raising rates

PETALING JAYA: Bank Negara kept the overnight policy rate unchanged yesterday despite the pressure to rein in rising prices, as policymakers placed priority on sustaining economic growth. “While both the risks to higher inflation and the risks to slower growth have increased, the immediate concern is to avoid a fundamental economic slowdown that would involve higher unemployment,'' the central bank said in a statement issued after a scheduled monetary policy meeting. Bank Negara was originally expected to announce the meeting's outcome at 6pm yesterday, but the announcement was delayed by nearly two hours. Earlier, the market was split almost evenly on how they expected the central bank would deal with rising inflation in the country. The interest rate in Malaysia has remained at 3.5% since April 2006, and is among the lowest... [read full story]