NSTbusiness: Bank Negara Malaysia’s Monetary Policy Committee has reduced the Overnight Policy Rate by 25 basis points to 2.50 per cent.
In January, Bank Negara reduced the OPR by 25 basis points to 2.75, the lowest since 2011.
The move means the ceiling and floor rates of the corridor of the OPR are correspondingly reduced to 2.75 per cent and 2.25 per cent respectively. “This has also led to greater risk aversion, resulting in tighter financial conditions and a resurgence in financial market volatility,” it said in a statement today.
“With further anticipated policy measures, these actions are expected to mitigate the economic impact of Covid-19.”
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