Bank Negara governor: OPR cut is pre-emptive

WEDNESDAY, MAY 11: KUALA LUMPUR- Bank Negara Malaysia Governor Muhammad Ibrahim(pic) delivers keynote address at Global Islamic Finance Forum, Auditorium, Sasana Kijang, Kuala Lumpur at 8000 (0000 GMT); KUALA LUMPUR- The 241th Meeting of the Conference of Rulers at Istana Negara at 1000 (0200 GMT) KUALA LUMPUR- Press Conference by Health Minister Dr S. Subramaniam at Operations Room Foyer, Level 4, Block E7, Health Ministry 1400 (0600 GMT)

KUALA LUMPUR: The decision to cut the overnight policy rate (OPR) is a pre-emptive action to ensure that the economy continues to remain on a steady growth path, said Bank Negara governor Datuk Muhammad Ibrahim.

“It’s not that we expected growth to be weaker in the second half. We anticipate it to be stronger and that growth for the whole year is expected to remain between 4% and 4.5%.