Malaysia’s central bank further raises overnight policy rate
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./.