Malaysiaโs Overnight Policy Rate (OPR) is projected to remain steady at 3% throughout 2024, as the nation experiences a moderation in Producer Price Index (PPI) inflation. In August 2024, the PPI inflation rate slowed to 0.3% year-on-year (y-o-y), down from 1.3% y-o-y in the previous month, signaling a shift in local production costs. The Producer Price Index (PPI) measures price changes at the producer...
In line with market expectations, Bank Negara Malaysia (BNM) has opted to maintain its benchmark Overnight Policy Rate (OPR) at 3% during its fourth Monetary Policy Committee (MPC) meeting for 2024. The decision comes as the country enjoys sustained economic growth and benign inflation, providing a stable backdrop for future expansion. According to a Bloomberg survey, all economists predicted that the...
Even if the United States Federal Reserve (US Fed) proceeds with the anticipated interest rate cuts, Bank Negara Malaysia (BNM) is likely to maintain the Overnight Policy Rate (OPR) at 3% through the end of 2025, according to Maybank Investment Bank Bhd (Maybank IB). This forecast comes amid a strengthening ringgit and persistent domestic inflationary pressures. Fed Rate Cuts and BNM's OPR...
Bank Negara Malaysia (BNM) announced that its international reserves increased by 1.05% to US$115.9 billion (RM507.35 billion) as of August 15, 2024, compared to US$114.7 billion (RM502.08 billion) as of July 31, 2024. In a statement, the central bank emphasized that this reserves position is sufficient to finance 5.4 months of imports of goods and services and is equivalent to one time the total...
Malaysiaโs economy experienced significant growth in the second quarter of 2024, advancing by 5.9%, according to Bank Negara Malaysia (BNM) governor Datuk Abdul Rasheed Ghaffour. This impressive growth was attributed to several key factors, including strong domestic demand, a surge in exports, and increased household spending. Strong Domestic Demand Powers Economic Growth One of the primary drivers of...
Bank Negara Malaysia Enforces Amendments to Money Services Business Act Bank Negara Malaysia (BNM) has announced the enforcement of the Money Services Business (Amendment) Act 2024 (MSBA 2024) effective today. These amendments aim to bolster BNM's ability to implement stringent enforcement actions against illegal operators within the money services business (MSB) industry, thereby enhancing the sector's...
Bank Negara Maintains OPR at 3% Amid Positive Economic Indicators Bank Negara Malaysia has decided to keep the Overnight Policy Rate (OPR) unchanged at 3%, following the conclusion of its two-day Monetary Policy Committee (MPC) meeting. This decision aligns with economists' expectations and maintains the benchmark lending rate at its level since the last increase of 25 basis points in May...
The recent statements from Adnan Zaylani, the Deputy Governor of Bank Negara Malaysia, underscore a strategic decision by Malaysia's central bank to refrain from using interest rates as a mechanism to defend the Malaysian ringgit against currency fluctuations. Instead, the focus remains steadfast on economic growth and managing inflation, a stance that reflects a broader trend observed in several Asian...
In a move that underlines confidence in Malaysia's economic rebound, the country's central bank, Bank Negara Malaysia (BNM), decided to maintain the overnight policy rate (OPR) at 3%. This decision, announced following a two-day meeting of the Monetary Policy Committee, aligns with the predictions of financial experts and reflects an economic environment marked by balanced growth and moderate...
In a recent assessment, Victor Yong, an interest rates strategist at UOB Global Economics and Market Research, has provided a detailed outlook on the future movements of the Bank Negara Malaysiaโs (BNM) Overnight Policy Rate (OPR). According to Yong, BNM is expected to maintain the OPR at 3.00 percent for at least another twelve months, with the next adjustment likely to be a reduction. Yongโs...
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