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Bank Negara Malaysia bnm.gov.my

Monetary and Financial Developments in July 2026

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Announcement

null Monetary and Financial Developments in July 2026

Monetary and Financial Developments in July 2026

Headline and core inflation were both lower in July

  • Both headline and core inflation[1] edged lower to 1.8% (June 2026: 1.9%), reflecting easing external cost pressures and lower inflation across several core items.
  • The moderation in headline inflation was attributed to slower retail fuel inflation, particularly for diesel and RON97[2] .
  • Lower core inflation also contributed to the decline, mainly reflecting lower inflation in health insurance, jewellery and watches amid softer global gold prices.

    • Trade surplus widened on continued strength in tech-related exports

  • The trade surplus increased to RM22.5 billion (June 2026: RM15.8 billion), driven by continued strong exports that more than offset the rise in imports.
  • Strong E&E exports (51%; June 2026: 56.9%), particularly semiconductors (69.8%; June 2026: 76.7%) amid continued strength in global tech demand.
  • Non-E&E exports remained firm at 33.5% (June 2026: 37.3%), supported by continued growth in refined petroleum and tech-related exports.
  • Similarly, imports growth moderated while remain elevated at 36.4% (June 2026: 43.1%), reflecting slower growth in capital imports.

    • Sustained growth in credit to the private non-financial sector

  • Credit to the private non-financial sector grew by 6.5% (June 2026: 6.4%), reflecting sustained growth in both outstanding loans (6.1%; June 2026: 6%) and corporate bonds (8%; June 2026: 8.1%).
  • Business loan growth continued to increase (7.5%; June 2026: 7.2%), driven primarily by working capital loans. In terms of sectoral loan growth, the manufacturing and services sectors recorded higher loan growth.
  • Meanwhile, household loan growth remained unchanged at 5.3% (June 2026: 5.3%) supported by steady loan growth across most purposes.

    • Banks continued to maintain healthy liquidity buffers

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    Bank Negara Malaysia — imported from official source
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    https://www.bnm.gov.my/press-release-2026/-/asset_publisher/ZkJrPGjQLX7H/rss ATOM
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    October 03, 2026 20:42
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    https://www.bnm.gov.my/-/monetary-and-financial-developments-in-july-2026?redirect=%2Fp...

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