BNM

Malaysia’s 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 Malaysia’s (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. Yong’s...

Malaysia is on the cusp of an economic resurgence, with Bank Negara Malaysia (BNM) projecting an expansion of between 4% and 5% in 2024. This anticipated growth is buoyed by a resilient domestic demand and a revival in export activities, according to BNM's Governor, Datuk Abdul Rasheed Ghaffour. The announcement came during the release of BNM’s 2023 annual report, shedding light on the nation's economic...

In the vibrant heart of Kuala Lumpur, where dreams of homeownership flourish, the Malaysian government, spearheaded by Bank Negara Malaysia (BNM), has embarked on a mission to fortify the nation's financial ecosystem. This initiative is designed to navigate the complexities of household debt, ensuring the dreams of future homeowners remain untarnished by financial instability. Deputy Finance Minister Lim...

Following the latest Monetary Policy Committee (MPC) meeting, Bank Negara Malaysia (BNM) has announced the retention of the overnight policy rate (OPR) at 3%. This decision marks the fourth consecutive time since July 2023 that the MPC has maintained the rate, following a 25 basis point increase in May of the previous year. BNM stated, “With the OPR currently at 3%, our monetary policy stance continues...

Bank Negara Malaysia (BNM) has announced that its international reserves have risen to US$112.8 billion as of December 15, 2023, up from US$112.3 billion at the end of November 2023. The central bank confirmed that this reserves position is adequate to finance 5.5 months of imports of goods and services and is equivalent to the total short-term external debt. The primary components of BNM's international...