Bank Negara retains OPR at 3.25%

  • Banking
  • Thursday, 19 May 2016

Bank Negara Malaysia deputy governor Datuk Muhammad Ibrahim : "We have now reached a critical juncture in our migration to e-payments.

KUALA LUMPUR: Bank Negara has decided to keep the benchmark overnight policy rate (OPR), to which commercial banks based their deposit and lending rates, at 3.25%.

The move was not unexpected with almost all economists surveyed expecting the central bank to maintain the benchmark interest rate. 

The central bank, which released a statement following the monetary policy committee meeting chaired for the first time by Datuk Muhammad Ibrahim (pic) as Bank Negara Governor, said “the stance of monetary policy is accommodative and supportive of economic activity”. 

Muhammad succeeded Tan Sri Dr Zeti Akhtar Aziz On May 1 as the central bank chief.

It said policymakers were cognizant of downside risks in the global economic and financial environment and would be closely monitoring and assessing their implications on domestic price stability and growth to ensure policy stance remains consistent with sustainable growth of the economy.
Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

Next In Business News

US posts weakest growth of pandemic recovery on supply woes
Top Glove cuts targeted Hong Kong listing proceeds again, to US$473mil
Drilling business lifts Icon Offshore Q3 earnings
EP Manufacturing appoints two new directors
UOB Malaysia provides financing to Ericsson Malaysia
Bursa Malaysia ends lower
Warrant of arrest Issued against ex-CEO of Transmile
PMB Investment targets RM10-15mil fund size for Shariah Global Equity Fund by year-end
Shell sets tougher climate targets, Q3 profit below expectations
Bank Pembangunan, MDEC collaborate to catalyse Malaysia's digital economy growth

Others Also Read