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- On July 9, BNM announced that the ceiling and floor rates of the OPR corridor were correspondingly reduced to 3% and 2.5% respectively, following the rate cut.
KUALA LUMPUR (Sept 1): Moody’s Analytics expects Bank Negara Malaysia (BNM) to keep its overnight policy rate (OPR) at 2.75% at its next monetary policy meeting on Thursday.
In its Asia-Pacific Weekly Highlights and Preview research note last Friday, Moody’s Analytics said the central bank made a 25-basis-point OPR cut in July as a pre-emptive move in the face of an increasingly uncertain external environment.
“Since then, industrial production and export figures have come in better than expected.
“A potential rate cut by the US Federal Reserve in September, together with subdued headline inflation, would create room for BNM to loosen monetary policy if the external situation deteriorates,” it said.
On July 9, BNM announced that the ceiling and floor rates of the OPR corridor were correspondingly reduced to 3% and 2.5% respectively, following the rate cut.
The central bank last kept the OPR at 2.75% in March 2023.
The OPR was increased to 3% in May 2023.
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