Bank Negara maintains interest rate at 3.25%

According to economists and analysts, the appointment of Muhammad(pic) is a positive development as it helps alleviate a lot of market uncertainties about Malaysia

PETALING JAYA: Bank Negara has decided to maintain the overnight policy rate (OPR), on which commercial banks base their deposit and lending rates, at 3.25%.

The benchmark rate was last adjusted with a 25-basis point (bp) hike in July 2014, while the statutory reserve requirement (a requirement for commercial banks to set aside a certain amount of their cash with their central banks on a mostly interest-free basis) was revised with a 50bp cut to 3.50% this February.