Bank Negara cuts overnight policy rate by 25bps to 1.75%

“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.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 53
Cxense type: NA
User access status: 3
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!


Next In Business News

BoE ‘cliff edge’ poses fresh risk for ravaged gilt market
Upstream to gain from output cut
IATA: Total air traffic surges 68% in August 2022
U.S. weekly jobless claims increase more than expected
Malaysian bubble tea chain brewing up rapid expansion, to revisit IPO plans
Hong Leong Banks introduce enhanced security measures to protect customers from fraud
Ringgit retreats from gains to close lower against US dollar
Nestcon bags RM91.18mil hydroelectric project
Yinson secures US$720mil financing for FPSO Maria Quit�ria
Bursa Malaysia Derivatives to host inaugural East Malaysia POC 2022 in Kota Kinabalu

Others Also Read