BNM Appoints Economic Stalwart Yogeesvaran As External MPC Member

KUALA LUMPUR, Bank Negara Malaysia (BNM) has appointed Datuk Yogeesvaran Kumaraguru as an external member of the Monetary Policy Committee (MPC) for a two-year term, effective Sept 1, 2024. In a statement today, the central bank said the accomplished economist had 27 years of experience in the Economic Planning Unit (EPU) before joining the Ministry of Plantation Industries and Commodities as secretary general in 2017. "I would like to welcome Yogeesvaran as the latest member of the MPC. His insights and experience in the field of economics and policymaking will be beneficial to the MPC's discussions and deliberations," said BNM governor Datuk Seri Abdul Rasheed Ghaffour. During his tenure at the EPU, Yogeesvaran was involved in the formulation of several Malaysia Plans and was a member of the National Economic Action Council Secretariat. He also served as a consultant on economic matters to the World Bank and the United Nations. Under the Central Bank of Malaysia Act 2009 (CBA), the MPC is responsible for formulating monetary policy and deciding on policies for the conduct of monetary policy operations. The CBA also sets out the process for appointing members to the MPC. Source: BERNAMA News Agency