No cut in OPR seen

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PETALING JAYA: Bank Negara is unlikely to cut the overnight policy rate (OPR) at its monetary policy committee (MPC) meeting today amid cautious optimism that an economic recovery is already taking hold in Malaysia, according to most economists.

The majority of them expect the central bank to keep the OPR – which is the rate on which commercial banks based their deposit and lending rates – unchanged at 1.75% for now, as further easing of movement restrictions, amid the declining number of new Covid-19 cases and the recently launched vaccination programme, has helped improve the outlook for the economy.