Malaysian central bank holds policy rate
BNM expects higher inflation later this year as government phases out fuel subsidies
Bank Negara Malaysia (BNM) kept its policy rate unchanged yesterday (July 11) for the seventh straight meeting.
BNM’s monetary policy committee (MPC) decided to maintain the overnight policy rate (OPR) at 3%, unchanged since May 2023. The central bank raised the policy rate by 125 basis points between May 2022 and May 2023 to curb inflation.
Headline inflation in Malaysia was 2% year on year in May, up from 1.8% in April. Core inflation was 1.9% year on year in May, the same as the previous month
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