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.