Friday, January 20, 2017

OPR Holds Steady at 3%

Economic Research
20 January 2017
Malaysia

Economic Update




BNM’s Monetary Policy Committee (MPC) kept the OPR unchanged at 3% on 19 Jan, as expected.

We are of the view that Bank Negara Malaysia (BNM) is likely to maintain the overnight policy rate (OPR) at the current level of 3% in 2017. This is on account of the:
i. Volatility in the currency market;
ii. Expectations of sustained economic growth;
iii. Manageable inflation rate.

Malaysia’s economic growth is projected by the central bank to expand within 4-5% for 2017. This is in line with our forecast for the economy to grow 4% in 2017, albeit at the lower end of BNM’s forecast.


Economist:  Vincent Loo Yeong Hong  | +603 9280 2172
Economist:  Aris Nazman Maslan  | +603 9280 2184


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