KUALA LUMPUR: Bank Negara Malaysia is expected to keep the overnight policy rate (OPR) at 3.00 per cent for the remainder of the year.
Yesterday, the central bank announced that the key rate has been maintained at 3.00 per cent. This marked the third consecutive session where its Monetary Policy Committee has opted to pause at the same level.
"Taking these into consideration, we maintain the expectation for BNM to keep the OPR unchanged at 3.00 per cent in the final 2023 MPC meeting,” it said in a note today.Public Investment Bank Bhd is of the view that the current rate allows BNM to carefully evaluate the impact of its cumulative 125 basis points rate hikes since the beginning of their rate hike cycle in May 2022, while exercising prudence.
CGS-CIMB Securities Sdn Bhd reckons that global conditions over the next quarter or two would likely remain weak as the United States maintains its elevated federal funds rate as it favours dampening inflation over economic growth.
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