Malaysia
BNM held the OPR at 2.75% in November and expects 2026 growth above 5%; GDP grew 5.3% year on year in the third quarter (advance estimate), and September inflation was 1.8%.
- Last updated
- 13 Nov 2026
- Latest data as of
- 5 Nov 2026
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Also 0.9 times short-term external debt.
Not a limit-utilization rate: the base is balances, not credit limits.
| 2026-03 | 5.6 |
|---|---|
| 2026-04 | 5.8 |
| 2026-05 | 6.4 |
| 2026-06 | 6.4 |
| 2026-07 | 6.5 |
| 2026-08 | 6.4 |
| 2026-09 | 6.3 |
BNM credit to the private non-financial sector (outstanding loans plus corporate bonds), y/y at month-end, from BNM Monetary and Financial Developments · Source: Bank Negara Malaysia, Monetary and Financial Developments (monthly) (2026-03, 2026-04, 2026-05, 2026-06, 2026-07, 2026-08, 2026-09) Includes corporate bonds, so it is not bank loan growth alone.
| 2024Q2 | 69.1 |
|---|---|
| 2024Q3 | 69.2 |
| 2024Q4 | 69.4 |
| 2025Q1 | 69.5 |
| 2025Q2 | 69.8 |
| 2025Q3 | 69.9 |
| 2025Q4 | 69.8 |
| 2026Q1 | 69.5 |
Credit to households and non-profits from all sectors at market value / GDP, BIS total credit statistics, adjusted for breaks (Q.MY.H.A.M.770.A) · Source: BIS total credit statistics, series Q.MY.H.A.M.770.A
| 2025-06 | 0.89 |
|---|---|
| 2025-09 | 0.94 |
| 2025-12 | 0.93 |
| 2026-03 | 0.92 |
| 2026-06 | 0.96 |
Household loans 3+ months in arrears, % of outstanding household loans by value, quarter-end (BNM) · Source: BNM Insights: Beyond Oil Prices — From Geopolitical Conflict to Financial Stability Risk (October 2026) Values as published in a BNM chart; BNM does not define these as impaired loans.
| 2026-03 | 2.9 |
|---|---|
| 2026-04 | 3 |
| 2026-05 | 3 |
| 2026-06 | 3 |
| 2026-07 | 3 |
| 2026-08 | 2.9 |
| 2026-09 | 2.9 |
Unemployed persons as % of the labour force, monthly Labour Force Statistics (DOSM) · Source: DOSM monthly Labour Force Statistics (as reported by BERNAMA, The Star, Malay Mail) (2026-03, 2026-04, 2026-05, 2026-06, 2026-07, 2026-08, 2026-09)
Key indicators and definitions
Compilers differ; compare like with like.| Indicator | Value | Definition and scope | Basis date | Source | Definition and source |
|---|---|---|---|---|---|
| Household debt to GDP | 84.8%84.1% at end-2024 | Household debt / nominal GDPHouseholds | 31 Dec 2025 | Bank Negara Malaysia, Financial Stability Review 2H 2025 (2026-03-31) | Definition and sourceHousehold debt / nominal GDP Scope: Households Source: Bank Negara Malaysia, Financial Stability Review 2H 2025 (2026-03-31) |
| Gross international reserves | USD 131.7bn | Foreign currency reserves, IMF reserve position, SDRs, gold and other reserve assetsBank Negara Malaysia | 15 Sep 2026 | Bank Negara Malaysia, Statement of Assets and Liabilities, 15 September 2026 | Definition and sourceForeign currency reserves, IMF reserve position, SDRs, gold and other reserve assets Scope: Bank Negara Malaysia Source: Bank Negara Malaysia, Statement of Assets and Liabilities, 15 September 2026 |
| Reserves in months of imports | 4.7 monthsAlso 0.9 times short-term external debt. | Months of imports of goods and servicesBank Negara Malaysia (reserves of USD 132.1bn at 31 July) | 31 Jul 2026 | Bank Negara Malaysia press release (2026-08-07) | Definition and sourceMonths of imports of goods and services Scope: Bank Negara Malaysia (reserves of USD 132.1bn at 31 July) |
| Revolving share of credit card balances | 48%Not a limit-utilization rate: the base is balances, not credit limits. | Balances unpaid by the due date and carried forward / card balances outstandingBanking system | 31 Dec 2025 | Bank Negara Malaysia, Financial Stability Review 2H 2025 (2026-03-31) | Definition and sourceBalances unpaid by the due date and carried forward / card balances outstanding Scope: Banking system Source: Bank Negara Malaysia, Financial Stability Review 2H 2025 (2026-03-31) |
| Overnight Policy Rate (BNM) | 2.75%unchanged from the September meeting | Bank Negara Malaysia policy rateMalaysia, national | 5 Nov 2026 | theSun: BNM maintains OPR at 2.75% as 2026 growth seen above 5% (2026-11-05, BNM Monetary Policy Statement) | Definition and sourceBank Negara Malaysia policy rate Scope: Malaysia, national |
| Real GDP growth, Q3 2026 (advance estimate) | 5.3%Advance estimate compiled from partial data; DOSM publishes the preliminary Q3 2026 GDP on 18 November 2026 and figures may differ. | Year-on-year real GDP growth, DOSM advance estimateMalaysia, national | 30 Sep 2026 | DOSM: Advance GDP Estimates, Third Quarter 2026 (16 October 2026) | Definition and sourceYear-on-year real GDP growth, DOSM advance estimate Scope: Malaysia, national Source: DOSM: Advance GDP Estimates, Third Quarter 2026 (16 October 2026) |
| Household loan growth (BNM) | 5.3%up from 5.2% in August | Year-on-year growth of outstanding household loans, banking systemMalaysia, banking system | 30 Sep 2026 | Bank Negara Malaysia: Monthly Highlights & Statistics, September 2026 (released 2026-10-30) | Definition and sourceYear-on-year growth of outstanding household loans, banking system Scope: Malaysia, banking system Source: Bank Negara Malaysia: Monthly Highlights & Statistics, September 2026 (released 2026-10-30) |
| Gross impaired loans ratio (BNM) | 1.4%broadly unchanged | Gross impaired loans / total loans, banking systemMalaysia, banking system | 30 Sep 2026 | Bank Negara Malaysia: Monthly Highlights & Statistics, September 2026 (released 2026-10-30) | Definition and sourceGross impaired loans / total loans, banking system Scope: Malaysia, banking system Source: Bank Negara Malaysia: Monthly Highlights & Statistics, September 2026 (released 2026-10-30) |
| Household loans three or more months in arrears (MIA-3, BNM) | 0.96%up from 0.92% at end-March 2026 and 0.89% at end-June 2025 | Household loans three or more months in arrears, % of outstanding household loans by value (BNM)Malaysia, banking system household loans | 30 Jun 2026 | BNM Insights: Beyond Oil Prices — From Geopolitical Conflict to Financial Stability Risk (October 2026) | Definition and sourceHousehold loans three or more months in arrears, % of outstanding household loans by value (BNM) Scope: Malaysia, banking system household loans |
| Average headline inflation, January–July | 1.8% | Average year-on-year headline CPI inflation, January–July 2026Malaysia, national | 31 Jul 2026 | Bank Negara Malaysia: Monetary Policy Statement (3 September 2026) | Definition and sourceAverage year-on-year headline CPI inflation, January–July 2026 Scope: Malaysia, national Source: Bank Negara Malaysia: Monetary Policy Statement (3 September 2026) |
| Real GDP growth, first half 2026 | 5.7% | Year-on-year real GDP growth, January–June 2026Malaysia, national | 30 Jun 2026 | Bank Negara Malaysia: Monetary Policy Statement (3 September 2026) | Definition and sourceYear-on-year real GDP growth, January–June 2026 Scope: Malaysia, national Source: Bank Negara Malaysia: Monetary Policy Statement (3 September 2026) |
| Overnight Policy Rate (BNM) | 2.75%unchanged | Bank Negara Malaysia policy rateMalaysia, national | 3 Sep 2026 | Bank Negara Malaysia: Monetary Policy Statement (3 September 2026) | Definition and sourceBank Negara Malaysia policy rate Scope: Malaysia, national Source: Bank Negara Malaysia: Monetary Policy Statement (3 September 2026) |
| Unemployment rate (DOSM) | 3.0%unchanged from June | Unemployed persons as a share of the labour forceMalaysia, Labour Force Survey (DOSM) | 31 Jul 2026 | BERNAMA: Unemployment Rate Unchanged At 3.0 Pct In July - DOSM | Definition and sourceUnemployed persons as a share of the labour force Scope: Malaysia, Labour Force Survey (DOSM) Source: BERNAMA: Unemployment Rate Unchanged At 3.0 Pct In July - DOSM |
| Headline CPI inflation (DOSM) | 1.9%up from 1.8% in July | Year-on-year change in the consumer price index (DOSM)Malaysia, national | 31 Aug 2026 | The Star: Malaysia's inflation rises to 1.9% in August (2026-09-18, DOSM data) | Definition and sourceYear-on-year change in the consumer price index (DOSM) Scope: Malaysia, national Source: The Star: Malaysia's inflation rises to 1.9% in August (2026-09-18, DOSM data) |
| Household loan growth (BNM) | 5.2%down from 5.3% in July | Year-on-year growth of outstanding household loans, banking systemMalaysia, banking system | 31 Aug 2026 | Bank Negara Malaysia: Monthly Highlights & Statistics, August 2026 (released 2026-09-30) | Definition and sourceYear-on-year growth of outstanding household loans, banking system Scope: Malaysia, banking system Source: Bank Negara Malaysia: Monthly Highlights & Statistics, August 2026 (released 2026-09-30) |
| Gross impaired loans ratio (BNM) | 1.4%broadly unchanged from July | Gross impaired loans / total loans, banking systemMalaysia, banking system | 31 Aug 2026 | Bank Negara Malaysia: Monthly Highlights & Statistics, August 2026 (released 2026-09-30) | Definition and sourceGross impaired loans / total loans, banking system Scope: Malaysia, banking system Source: Bank Negara Malaysia: Monthly Highlights & Statistics, August 2026 (released 2026-09-30) |
| Unemployment rate (DOSM) | 2.9%down from 3.0% in July | Unemployed persons as a share of the labour forceMalaysia, Labour Force Survey (DOSM) | 31 Aug 2026 | BERNAMA: Malaysia's Unemployment Rate Dips To 2.9 Per Cent In August - DOSM (2026-10-09) | Definition and sourceUnemployed persons as a share of the labour force Scope: Malaysia, Labour Force Survey (DOSM) Source: BERNAMA: Malaysia's Unemployment Rate Dips To 2.9 Per Cent In August - DOSM (2026-10-09) |
28 articles on Malaysia
Macro, credit, regulation, competition, digital infrastructure and T&S View.
Browse all articles- Macro & households · 13 Nov 2026Malaysia's unemployment rate holds at 2.9% in September; third-quarter rate steady at 3.0%
- Credit · 12 Nov 2026World Bank: Malaysian SMEs finance around 28% of investment from banks and need wider collateral options
- Macro & households · 6 Nov 2026Bank Negara holds OPR at 2.75% and now sees 2026 growth above 5%
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