BNM Governor: Effective policy-making needs global perspective

Shamsiah Mohd Yunus. (Bernama pic)

KUALA LUMPUR: Monetary and fiscal policies should have global perspectives as any fallout often spreads across borders, says Bank Negara Malaysia (BNM) Governor Shamsiah Mohd Yunus.

She said in a world increasingly buffeted by protectionism and the risk of financial contagion, central banks must cooperate with each other.

“However independent a central bank is from the government, it cannot function in isolation. Cooperation at the national, regional and international levels is necessary.

“As guardians of the financial system, central bankers must maintain public trust,” she said in her speech at the commemoration of BNM’s first Malaysian governor, Tun Ismail Ali’s centennial birthday here today.