KUALA LUMPUR, April 29 — Bank Negara Malaysia (BNM) has reappointed Professor Dr Yeah Kim Leng and appointed Datuk Dr Gan Wee Beng as external members of its Monetary Policy Committee (MPC) effective April 1, 2019.

In a statement today, BNM said Yeah, an economics professor at Sunway University, was reappointed for a one-year term and Gan, a Perbadanan Insurans Deposit Malaysia board member, was appointed for two years.

These appointments were made under the Central Bank of Malaysia Act 2009, which provides for the appointment of external members to the Monetary Policy Committee.

The central bank said both men would continue to enhance the collective expertise and experience relevant to the responsibilities and functions of the committee.

Apart from Yeah and Gan, the seven-member committee comprises governor Datuk Nor Shamsiah Yunus, deputy governors Abdul Rasheed Ghaffour and Jessica Chew Cheng Lian, and assistant governors Norzila Abdul Aziz and Marzunisham Omar.

The MPC is responsible for formulating monetary policy and policies for the conduct of monetary policy operations.

Monetary policy is autonomously formulated and implemented by BNM, as mandated in the Central Bank of Malaysia Act 2009. — Bernama