Malaysia’s central bank kept its benchmark interest rate at the same level it has been at since May last year, as a stable economic backdrop gives policymakers room to hang tight.

Malaysia left its benchmark interest rate unchanged on Wednesday, a move that was widely anticipated as growth and inflation remain within official forecasts this year. Most Read from BloombergFrom Housing to Immigration,

Malaysia's central bank kept its key policy rate unchanged on Wednesday, reflecting a positive economic growth outlook and steady inflation but issued a warning about potential currency volatility.

Bank Negara Malaysia said it will be ready to smooth any excessive volatility in the ringgit and that markets should look beyond “short-term currency dynamics.”