KUALA LUMPUR (Nov 3): Slightly more than two weeks before the 15th general election, Bank Negara Malaysia’s (BNM) Monetary Policy Committee (MPC) raised the overnight policy rate (OPR) by 25 basis points (bps) to 2.75% on Thursday (Nov 3). “Against the backdrop of continued positive growth prospects for the Malaysian economy, the MPC decided to further adjust the degree of monetary accommodation. BNM noted that with the latest OPR level, its stance on monetary policy remains accommodative and supportive of economic growth. “Nevertheless, external demand is expected to moderate following softening global growth,” it added. “Despite bouts of heightened volatility in the global financial and foreign exchange markets, these developments are not expected to derail Malaysia’s growth,” BNM assured.

Source: The Edge Markets November 03, 2022 12:37 UTC