THE lower Overnight Policy Rate (OPR) increase by Malaysia as compared to the Philippines, Indonesia, Korea and India is one of the main reasons for the ringgit’s decline, says Finance Minister II Datuk Seri Amir Hamzah Azizan.
He said while Malaysia’s OPR remains at 3% after it was increased by 125 basis points, the four other countries hiked their key policy rates by 200 to 450 basis points – much higher than Malaysia’s.
