Bank Negara will raise SRR to 2% from April

PETALING JAYA: Bank Negara will increase the statutory reserve requirement (SRR), or the amount that banks keep with the central bank, to 2% from 1%, effective April 1.

However, Bank Negara maintained the overnight policy rate (OPR) at 2.75% at yesterday's monetary policy committee meeting, which hinted a “possible upward pressure on prices in the latter part of the year''.