KUALA LUMPUR: Bank Negara Malaysia’s cut of the Overnight Policy Rate (OPR) to 2.75 per cent from 3.0 per cent yesterday, is seen as a tactical move to line with market forces to keep the economic growth momentum moving with sufficient liquidity in the market. “Bank Negara is one of those few central banks which have lot of room to manoeuvre though monetary policy. It wants to keep the fair market value of ringgit to meander around 4.05 to 4.11 as per the market expectation. “We maintain the 25bps OPR cut to 2.75% as positive. A rate cut should provide positive impetus to private consumption which is the anchor for growth and investment with exports complementing in 2020,” Anthony said further.

Source: New Strait Times January 23, 2020 07:41 UTC