Malaysia: Bank Negara maintains OPR at 1.75%

  • BANK Negara Malaysia (BNM) has maintained its Overnight Policy Rate (OPR) at 1.75%, after its Monetary Policy Committee (MPC) meeting on 10 Sep 20.
  • The central bank said the previous four rate cuts in 2020, which saw the OPR reduced by 125 points, will continue to provide stimulus to the economy.
  • The outlook will still be subjected to downside risks, particularly from ongoing uncertainties surrounding the course of the pandemic domestically and globally.
  • For Malaysia, economic activity continues to recover from the trough in Apr 20.
  • BNM added that the fiscal stimulus packages have also supported economic recovery alongside monetary and financial measures.
  • However, it added the pace of recovery across sectors is expected to be uneven, with economic activity in some industries remaining below pre-pandemic levels, and slower improvement in the labour market.

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