tags - Sinar Daily

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.

Bank Islam Group CEO Datuk Mohd Muazzam Mohamed

Resilient domestic demand remains the anchor of Malaysia’s growth narrative, even as net external demand continues to fluctuate. - Bernama photo

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.

While mid-range and affordable homes may see the most immediate uplift, renewed interest in the high-end segment may also emerge, especially among upgraders or long-term investors seeking to take advantage of more favourable loan terms. - Bernama photo for illustration purpose only

Photo for illustration purposes only.

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.