Bank Negara cuts SRR to 3%


  • Economy
  • Friday, 08 Nov 2019

KUALA LUMPUR, Nov 8 (Bernama) -- Bank Negara Malaysia will cut the Statutory Reserve Requirement (SRR) ratio to 3% from 3.5% effective Nov 16, 2019, to ensure sufficient liquidity in the domestic financial system.

The last time BNM reduced the SSR was in 2016, when the ratio was lowered to to 3.5% from 4%.

"The decision to reduce the SRR is undertaken to maintain sufficient liquidity in the domestic financial system.

"This will continue to support the efficient functioning of the domestic financial markets and facilitate effective liquidity management by the banking institutions,” it said in a statement today.

The central bank said the SRR is an instrument to manage liquidity and is not a signal on the stance of monetary policy.

The Overnight Policy Rate (OPR) is the sole indicator used to signal the stance of monetary policy and is announced through the Monetary Policy Statement released after the Monetary Policy Committee meeting, it added.


Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 7
Cxense type: free
User access status: 3

Bank Negara , SRR

   

Across The Star Online


Air Pollutant Index

Highest API Readings

    Select State and Location to view the latest API reading

    Source: Department of Environment, Malaysia