OPR

Bank Negara Malaysia Holds Overnight Policy Rate at 3%, Eyeing Steady Economic Growth in 2024

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 Maintains OPR at 3% Amid Ringgit’s Challenges

Bank Negara Malaysia (BNM) has chosen to maintain its overnight policy rate (OPR) at 3% during its most recent Monetary Policy Committee (MPC) meeting, marking the third consecutive session where the OPR remains unchanged. Despite some calls for a rate hike to stabilize the ringgit, which has reached a 25-year low against the US dollar, BNM has opted to maintain the status quo since its last rate hike in...

Effectiveness of Raising the OPR in Strengthening the Ringgit Questioned

The recent discussion at the RAM Forum 2023 centered on whether raising the Overnight Policy Rate (OPR) is an effective tool for bolstering the Malaysian ringgit. Panellists at the forum expressed skepticism about the efficacy of this approach, particularly in light of the continued tightening of monetary policy in the United States. Maybank Investment Bank's Head of Fixed Income Research, Winson Phoon,...

Bank Negara Malaysia Maintains Overnight Policy Rate (OPR) at 3% Amid Economic Growth Challenges

Bank Negara Malaysia (BNM) has announced its decision to maintain the Overnight Policy Rate (OPR) at 3%. This move comes amidst challenges in Malaysia's economic growth, including slower external demand and a decline in commodity production. The decision marks the third consecutive time that the OPR has remained at 3%. In May, BNM raised the OPR by 25 basis points from 2.75% to 3%. The central bank stated...

Half of household loan accounts unaffected by OPR hike

A total of 50.3% or 6.4 million accounts of the total loan accounts in the household sector are fixed-rate loans that are not affected by the 100-basis-point (bps) increase in the overnight policy rate (OPR) last year, said Deputy Finance Minister Datuk Seri Ahmad Maslan. An estimated 54.8% of loan accounts of low-income borrowers, with an income of less than RM5,000 per month, are...

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