Kuala Lumpur (VNA) - Bank Negara Malaysia (BNM) has continued to hike the overnight policy rate (OPR), by 25 basis points to 2.75%.
BNM's Monetary Policy Committee (MPC) decided to adjust further the degree of monetary accommodation against the backdrop of continued positive growth prospects for the Malaysian economy.
The adjustment would also pre-emptively manage the risk of excessive demand on price pressures consistent with the recalibration of monetary policy settings that balances the risks to domestic inflation and sustainable growth.
At the current OPR level, the stance of monetary policy remains accommodative and supportive of economic growth, the bank said in a statement.
BNM noted that the MPC was not on any pre-set course, thus, the monetary policy decisions will continue to depend on evolving conditions and their implications on the overall outlook for domestic inflation and growth.
Any adjustments to the monetary policy settings going forward would continue to be done in a measured and gradual manner, ensuring that monetary policy remains accommodative to support sustainable economic growth in an environment of price stability, it added./.
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