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Malaysia’s central bank further raises overnight policy rate

Bank Negara Malaysia (BNM) has continued to hike the overnight policy rate (OPR), by 25 basis points to 2.75%.

Kuala Lumpur (VNA) - Bank Negara Malaysia (BNM) has continued to hike the overnightpolicy rate (OPR), by 25 basis points to 2.75%.

BNM's MonetaryPolicy Committee (MPC) decided to adjust further the degree of monetaryaccommodation against the backdrop of continued positive growth prospects forthe Malaysian economy.

The adjustment wouldalso pre-emptively manage the risk of excessive demand on price pressuresconsistent with the recalibration of monetary policy settings that balances therisks to domestic inflation and sustainable growth.

Atthe current OPR level, the stance of monetary policy remains accommodative andsupportive of economic growth, the bank said in a statement.

BNM noted that theMPC was not on any pre-set course, thus, the monetary policy decisions willcontinue to depend on evolving conditions and their implications on the overalloutlook for domestic inflation and growth.

Any adjustments tothe monetary policy settings going forward would continue to be done in ameasured and gradual manner, ensuring that monetary policy remainsaccommodative to support sustainable economic growth in an environment of pricestability, it added./.

VNA
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