Bank Negara maintains OPR at 1.75%, growth to improve from 2Q

Bank Negara said looking ahead, growth was projected to improve from 2Q onwards, driven by the recovery in global demand, increased public and private sector expenditure amid continued support from policy measures and more targeted containment measures.

KUALA LUMPUR: Bank Negara Malaysia maintained the overnight policy rate (OPR) of 1.75% at its monetary policy committee (MPC) meeting on Thursday as latest indicators point to improvements in external demand and continued consumer spending.

In its statement on Thursday, Bank Negara said while the re-imposition of containment measures would affect growth in the first quarter this year, the impact is expected to be less severe than that experienced in the second quarter of 2020.