Bank Negara ups OPR for the first time since 2011

PETALING JAYA: Interest rates are set to rise with Bank Negara having raised the benchmark overnight policy rate (OPR) by 25 basis points (bps), or 0.25%, to 3.25% as part of measures to curb rising household debt.

The hike was within most economists’ expectations after the broad hints given in the last monetary policy statement in May, in which policymakers had expressed concerns over the continued build-up of financial imbalances.