Thursday, November 29, 2007

Outlook for 2008 by Malaysian Institute of Economic Research

Malaysian Institute of Economic Research is a think-tank on economic matters relevant to our nation. It is non-profit and independent, devoted entirely to economic research for the good of both the government and the private sector. As such, MIER's views are much less biased, thus making them more reliable.

On Nov. 27, MIER's Executive Director Dr. Mohd. Arif unveiled the economic outlook for next year.

Describing 2008 as a slow-down year, Dr. Mohd. Arif cautioned Malaysia of the likely onslaught of external shock from USA.

The cost-driven inflation is going to add a lot more pressure on our livelihood. "But don't count on BNM to adjust upwardly our rate," Dr. Mohd. Arif ruled out the possibility of a monetary tightening move.

However, hold on to Ringgit as its value is likely to rise by another 10% against the greenback. "The appreciating Ringgit provides a counterbalance to the rising inflation," Dr. Mohd. Arif told the nation.

MIER has been looked up to by a lot of decision makers for objective views.

I have been following MIER closely for its outlook on our nation.

No comments: