KUALA LUMPUR, Nov 3 — Bank Negara Malaysia (BNM) today retained the Overnight Policy Rate (OPR) at 1.75 per cent at the sixth and final Monetary Policy Committee (MPC) meeting of the year. The central bank has kept the policy rate unchanged since July 2020. In a statement issued after the...
KUALA LUMPUR, Nov 3 — Bank Negara Malaysia today retained the Overnight Policy Rate at 1.75 per cent at the sixth and final Monetary Policy Committee meeting of the year.In a statement issued after the meeting, BNM said headline inflation is likely to average within the projected range of 2.0 per cent to 3.0 per cent for 2021, having averaged 2.3 per cent year-to-date.
BNM said that going into 2022, Malaysia’s growth momentum is expected to improve, riding on expansion in global demand, higher private sector expenditure amid resumption of economic activity and continued policy support. The central bank said global economy remains on a recovery path following the expansion in manufacturing and services activity.
Overall, BNM said, the balance of risks to the global growth outlook remains tilted to the downside, mainly attributed to the uncertainty surrounding the emergence of variants of concern, the risk of more prolonged global supply chain disruptions, and potential risk of heightened financial market volatility amid adjustments in monetary policy.
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