* Says monetary policy remains accommodative and appropriate
* Sees inflation to be lower than forecast
By Trinna Leong
KUALA LUMPUR, Jan 28 (Reuters) - Malaysia's central bank held its key interest rate steady at 3.25 percent on Wednesday, saying the economy remained on a steady growth path and inflationary pressures were easing.
The Southeast Asian country is grappling with lower revenues from a drop in oil and commodities prices which have triggered capital flight and battered the ringgit, the worst performing currency among emerging Asian currencies this year.
The central bank said in a statement its current monetary policy stance remained accommodative and was appropriate given the developments in monetary and financial conditions. Inflationary pressures were also subsiding.
"Inflation for 2015 is expected to be lower than earlier anticipated due to the lower energy and commodity prices," the central bank said, noting that lower energy prices would partially offset other domestic cost factors.
Economists said the decision was expected and in line with economic fundamentals.
"The Malaysian central bank will focus on economic growth going forward, with inflation under control due to low fuel prices," said Alan Tan, economist at Kuala Lumpur-based Affin Hwang Capital.
The Malaysian ringgit pared some earlier losses in the one-month non-deliverable forwards market after the central bank kept interest rate unchanged.
Malaysia last raised its policy interest rate in July 2014, after keeping it on hold for three years. Analysts had initially penciled in another 25-basis-point increase but revised that forecast after global oil prices fell below $50 a barrel.
On Wednesday, the Monetary Authority of Singapore loosened policy while Thailand's central bank kept rates on hold at 2.0 percent, a level that was considered supportive for a recovering economy.
Despite uncertainties in the global economy and a decline in commodity prices, Bank Negara said its domestic financial institutions remained orderly.
Malaysia's exports slowed in the second half of 2014, affected by lower commodities prices, but the central bank expects manufactured goods to bolster overall exports.
Malaysia cut its growth forecast last week to reflect lower oil prices, with full-year GDP expected at 4.5-5.5 percent in 2015, down from its initial expectation of 5 to 6 percent.
The Malaysian ringgit pared some of earlier losses in one-month non-deliverable forwards market after the central bank kept interest rate unchanged.
(Full text of central bank's statement: )
($1 = 3.6165 ringgit) (Reporting By Trinna Leong; Editing by Jacqueline Wong)