Second Finance Minister Tan Sri Nor Mohamed Yackop said interest rates would be stable this year but it did not mean that they would remain stagnant.
Any movement in interest rates would not be unduly volatile, he said, adding that interest rates would rise or fall, depending on the global conditions.
“For the time being, the condition is stable and there is nothing to worry about. I believe conditions will remain stable,” said Nor Mohamed, clarifying that it did not means interest rates would remain stagnant.
“Stable means it would be not unduly volatile. Interest rate to remain stable this year, with movement, if any will not be too far from the current levels,” he said after closing the Perbadanan Usahawan Nasional Bhd (PUNB) conference for entrepreneurs in Kuala Lumpur on Feb 14.
On the strengthening of the ringgit, he said the government was not worried about the ringgit’s movements. He added the strengthening ringgit would not affect the country’s export performance.