Malaysia maintains rate 4th time, accommodative stance
Malaysia s central bank kept its benchmark interest rate steady for the fourth time, reiterating that its accommodative monetary policy stance will continue to be determined by the impact on inflation and domestic economic growth from new economic information.
Bank Negara Malaysa (BNM) left its overnight policy rate (OPR) at 1.75 percent, unchanged since July 2020 when it was cut for the fourth time last year in response to the hit to economic activity from the spread of the COVID-19 pandemic.
Last year BNM cut its key rate by a total of 125 basis points and since May 2019, when it began a monetary easing cycle, the rate has been cut five times by a total of 150 points.