tags - Sinar Daily

Bank Negara Malaysia’s Monetary Policy Committee (MPC) has decided to maintain the Overnight Policy Rate (OPR) at 2.75 per cent during its meeting today.

The ringgit last traded at a similar level on May 24, 2018, when it touched RM3.9797 against the greenback.

At the current OPR level, the MPC considers the monetary policy stance to be appropriate and supportive of the economy amid price stability, said the central bank.

In a statement today, the central bank said that at the current OPR level, the MPC considers the monetary policy stance to be appropriate and supportive of the economy amid price stability. 

BNM’s MPC is scheduled to announce its OPR decision tomorrow.

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said keeping the OPR unchanged would indicate that the current rate is conducive to economic stability and growth.

BNM said the ceiling and floor rates of the corridor of the OPR are correspondingly reduced to three per cent and 2.5 per cent, respectively.

BNM Monetary Policy Committee has maintained the overnight policy rate at 3.0 per cent. FILE PIX

Although the OPR is expected by many to stay at 3.0 per cent, some economists see a possible 25 basis points cut by Bank Negara Malaysia as pre-emptive support against the potential downside risks of the American tariffs.

In its latest Monetary Policy Statement, BNM indicated that inflation is anticipated to remain manageable in 2025, underpinned by easing global cost conditions and the absence of significant domestic demand pressures. - File photo