Central Bank of Malaya (Bank Negara Tanah Melayu)

• says 2020 headline inflation to average between -1.5% and 0.5% (0.7% in 2019)
• 2020 GDP growth to be between -2% and 0.5% amid coronavirus outbreak, low oil prices (2019 pace was 4.3%)
• says it could utilise policy levers as appropriate to cushion impact of economic downturn
• monetary policy considerations remain guided by evolving downside risks to growth, price stability
• will ensure enough liquidity in foreign exchange, bond and money markets for uninterrupted financial intermediation
• will work to avoid excessive volatility in exchange rate
• economy expected to normalise in 2021 in line with projected global recovery

Malaysia has been very quick with a fiscal response, circa 10% of GDP.