Bank Negara expected to stand pat on OPR

A Bloomberg poll of 21 economists showed a median forecast of 1.75%, indicating that OPR would likely be maintained.

PETALING JAYA: Banks are not likely to suffer a further hammering in earnings with Bank Negara expected to maintain its current key benchmark interest rate at 1.75% at its Monetary Policy Committee (MPC) meeting tomorrow.

The current overnight policy rate (OPR) is at its all-time-low at 1.75% since 2004, with a total of 125 basis points (bps) cuts thus far this year.