The central bank says its monetary policy remains supportive of the economy at the current OPR level.
Read More: https://www.freemalaysiatoday.com/category/highlight/2024/09/05/bnm-keeps-opr-at-3-to-support-economic-growth-2/
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Read More: https://www.freemalaysiatoday.com/category/highlight/2024/09/05/bnm-keeps-opr-at-3-to-support-economic-growth-2/
Free Malaysia Today is an independent, bi-lingual news portal with a focus on Malaysian current affairs.
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NewsTranscript
00:00Bank Negara Malaysia has kept the Overnight Policy Rate, or OPR, at 3% to support the
00:07country's economic growth.
00:10The central bank's decision to maintain the benchmark interest rate after its two-day
00:14Monetary Policy Committee meeting was widely anticipated.
00:18In a statement, BNM said the current OPR level supports the economy and aligns with its assessment
00:24of inflation and growth prospects.
00:27The MPC said its policy stance will continue to promote sustainable economic growth while
00:32ensuring price stability.
00:35BNM last raised the OPR from 2.75% to 3% in May 2023 and has held the rate steady at every
00:42MPC meeting since.
00:44It had slashed the OPR to its lowest ever at 1.75% in July 2020 during the COVID-19
00:51pandemic.
00:52Malaysia's Monetary Policy Meeting comes two weeks before the U.S. Federal Reserve
00:56is widely expected to start its rate cut cycle.