Bank Negara set to raise OPR by a further 25 bps

In a note yesterday, Kenanga Investment Bank Bhd said it expects the central bank to maintain its hawkish tone and raise the OPR by at least 25 bps during each of its remaining two Monetary Policy Committee (MPC) meetings this year, slated for Sept 7-8 and Nov 2-3, Bernama reported.

KUALA LUMPUR: Local investment banks expect Bank Negara to raise the overnight policy rate (OPR) by at least 25 basis points (bps) by year-end, tracking the US Federal Reserve’s 75 bps rate hike on Wednesday.

In a note yesterday, Kenanga Investment Bank Bhd said it expects the central bank to maintain its hawkish tone and raise the OPR by at least 25 bps during each of its remaining two Monetary Policy Committee (MPC) meetings this year, slated for Sept 7-8 and Nov 2-3, Bernama reported.