KUALA LUMPUR, March 20 -- Malaysia's middle-income (M40) group has yet to fully benefit from economic growth, with many still facing cost of living pressures, Bank Negara Malaysia governor Datuk Seri Abdul Rasheed Ghaffour said.

According to a report by Berita Harian, he said stagnant wages among the group require labour market reforms to create higher-value jobs with better pay.

"The government's main focus is to create high-value jobs that can offer better wages," he was quoted as saying.

"When the economy shifts towards higher value-added activities, it requires new skills. These types of jobs will automatically offer more attractive income packages compared to low-skilled work.

"When we are able to create more high-quality jobs, t...