Bank Negara MPC cuts OPR by 25bp to 2.75%, banks under pressure

The reduction in the OPR surprised economists who expected the MPC to retain the OPR at 3%.

KUALA LUMPUR: Bank Negara Malaysia's Monetary Policy Committee (MPC) reduced the Overnight Policy Rate (OPR) by 25 basis points to 2.75% -- the lowest since 2011.

The reduction in the OPR surprised economists who expected the MPC to retain the OPR at 3%.