BNM maintains OPR rate at 1.75%

PETALING JAYA: Bank Negara Malaysia has opted to keep the Overnight Policy Rate (OPR) at 1.75%, following the Monetary Policy Committee meeting today.

In a statement, the central bank said the latest indicators point towards significant improvement in economic activity in the third quarter. As such, it considers the stance of monetary policy to be appropriate and accommodative.

“The cumulative 125 basis points reduction in the OPR this year will continue to provide stimulus to the economy. The MPC will continue to assess evolving conditions and their implications on the overall outlook for inflation and domestic growth.

“The bank remains committed to utilise its policy levers as appropriate to create enabling conditions for a sustainable economic recovery,” it said.