Bank Negara holds rate

FILE PHOTO: A general view of the headquarters of Malaysia's central bank, Bank Negara Malaysia, in Kuala Lumpur January 29, 2013. REUTERS/Bazuki Muhammad/File Photo

PETALING JAYA: As widely expected, Bank Negara has kept the overnight policy rate (OPR) unchanged at 3.25%, despite the persistent downward pressure on emerging market currencies, including the ringgit, as the US continues on its path to raise interest rates.

Some economists note the dovish tone from Bank Negara indicates that central bank would likely continue to maintain the country’s benchmark interest rates at the current level through the end of the 2018.