“The reduction in the OPR provides additional policy stimulus to accelerate the pace of economic recovery, ” it said, adding that economic activity contracted sharply in the second quarter of the year.
KUALA LUMPUR: Bank Negara Malaysia's monetary policy committee has cut the overnight policy rate (OPR) rate by 25 basis points to 1.75% as it expected the reduction to help speed the economic recovery.
It said on Tuesday the ceiling and floor rates of the corridor of the OPR are correspondingly reduced to 2% and 1.50%, respectively.
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