This evening’s AGN update highlights Malaysia’s interest rate outlook, US economic fears, and Singapore’s strategic shift in foreign policy.

Malaysia

Bank Negara Malaysia may cut interest rates in 2025 to shield the economy from slowing growth. While April inflation was low at 1.4%, rising concerns over global trade and domestic demand may push policymakers to act.

• Economists predict a July rate cut
  
• Inflation expected to average 2.3%
  
• Growth projected at 4.4% for Q1 2025
  

International

JPMorgan CEO Jamie Dimon warned of stagflation risks in the US, citing geopolitical instability, fiscal gridlock, and weak demand. He also defended the bank’s backing of CATL’s Hong Kong IPO, despite US political resistance.

• Stagflation = inflation + stagnation
  
• Dimon criticizes tariff uncertainty
  
• JPMorgan launched new “Center for Geopolitics”
  

Asia

Singapore’s Deputy Prime Minister Gan Kim Yong announced that geopolitical neutrality is no longer sustainable. With intensifying trade tensions, Singapore is aligning its policies based on strategic interests tied to both the US and China.

• Gan: “We have to take sides based on principles”
  
• Singapore’s trade with China exceeds S$170B
  
• Focus on semiconductors, aerospace, and pharma

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