Malaysian central bank raises OPR to 2.25%

The headquarters of Malaysia's central bank. (Photo: AFP/VNA)

Kuala Lumpur (VNA) - Malaysia's central bank - Bank Negara Malaysia (BNM) - has increased the Overnight Policy Rate (OPR) by 25 basis points to 2.25%.

The ceiling and floor rates of the corridor of the OPR correspondingly rose to 2.5% and 2%, respectively, BNM said in a statement on July 6.

It said that the reopening of the global economy and the improvement in labour market conditions continue to support the recovery of economic activity.

BNM's move comes as Malaysian Prime Minister Ismail Sabri Yaakob recently affirmed that his government will seek measures to tackle the rising of commodities prices.

Speaking at a tourism event on July 3, the PM said that the Malaysian government has spent a subsidy of 17.6 billion USD to stabilise the prices of necessities such as chicken, eggs, cooking oil, water, petrol and electricity./.