PETALING JAYA: Bank Negara Malaysia’s Monetary Policy Committee (BNM’s MPC) has decided to maintain the Overnight Policy Rate (OPR) at 3% as the curre...
Bank Negara Malaysia’s Monetary Policy Committee has decided to maintain the Overnight Policy Rate at 3% as the current monetary policy stance remains supportive of the economy and is consistent with the current assessment of the inflation and growth prospect.
On the Malaysian economy, the central bank said the latest indicators point towards higher economic activity in the first quarter of 2024, driven by resilient domestic expenditure and a positive turnaround in exports. “The growth outlook is subject to downside risks from weakerthan-expected external demand, and larger declines in commodity production,” said the central bank.
BNM pointed out that the ringgit currently does not reflect Malaysia’s economic fundamentals and growth prospects.
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