KUALA LUMPUR: Bank Negara Malaysia’s (BNM) Monetary Policy Committee (MPC) has decided to maintain the Overnight Policy Rate (OPR) at 3.00 per cent at...
: Bank Negara Malaysia’s Monetary Policy Committee has decided to maintain the Overnight Policy Rate at 3.00 per cent at its meeting today.
“At the current OPR level, the monetary policy stance remains supportive of the economy and is consistent with the current assessment of inflation and growth prospects,“ it said. For the Malaysian economy, the central bank highlighted that the latest indicators point towards sustained strength in economic activity in the second quarter of 2024, driven by resilient domestic expenditure and better export performance.
“Investment activity would be supported by the ongoing progress of multi-year projects in both the private and public sectors, the implementation of catalytic initiatives under the national master plans, as well as the higher realisation of approved investments. Additionally, BNM said both headline and core inflation averaged 1.8 per cent in the first five months of the year -- as expected, inflation will trend higher in the second half of 2024 amid the recent rationalisation of diesel subsidies.
For the year as a whole, BNM opined that the headline and core inflation are expected to average within the earlier projected ranges of 2.0 per cent to 3.5 per cent and 2.0 per cent to 3.0 per cent respectively.
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