Nor Shamsiah Mohd Yunus

Malaysia sees trade diversion cushioning impact of tariff wars

(July 18): Malaysia’s central bank, which has already downgraded its economic growth outlook for this year amid an escalating trade war, sees a partial offset as companies shift operations from China to sidestep higher US tariffs.

In her first formal interview with the international media since she took office almost a year ago, Governor Nor Shamsiah Mohd Yunus said the trade diversion could add about 10 basis points to this year’s growth rate. That would be on top of Bank Negara Malaysia’s current forecast of 4.3% to 4.8% for 2019.

Nor Shamsiah named as Bank Negara's new governor

(June 22): Malaysia named Nor Shamsiah Mohd Yunus, a former central bank official who investigated the scandal-plagued state fund 1MDB, as governor of the regulator.

Shamsiah, who was deputy governor at Bank Negara Malaysia for six years until she left in November 2016, will replace Muhammad Ibrahim, who resigned from the top job earlier this month after questions were raised about the central bank’s role in a deal linked to 1MDB. Muhammad was less than halfway through his five-year term when he left.

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