CIMB analysts Chew Khai Yen and Michelle Chia say rising oil will pass through
to fuel-related costs and lift near-term inflation, but September headline CPI
is expected around 1.9-2.0%. Softer core inflation and a muted broader inflation
outlook support CIMB’s view that Bank Negara Malaysia will keep the overnight
policy rate at 2.75% at its November meeting.