Malaysia's central bank to maintain overnight policy rate at 2.75%

The Monetary Policy Committee (MPC) of Bank Negara Malaysia (BNM) on Thursday decided to maintain the overnight policy rate (OPR) at 2.75 per cent.

BNM said in a statement that at the current OPR level, the stance of monetary policy remains accommodative and supportive of economic growth.

It said the MPC will continue to assess the impact of the cumulative OPR adjustments, given the lag effects of monetary policy on the economy, Xinhua news agency reported.

It also said the MPC remains vigilant to cost factors, including those arising from financial market developments, that could affect the inflation outlook.

Further normalisation to the degree of monetary policy accommodation would be informed by the evolving conditions and their implications to the domestic inflation and growth outlook, it added.

--IANS

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