ON Wednesday, Bank Negara Malaysia unexpectedly increased the overnight policy rate (OPR) by 0.25%, bringing it to its highest level since 2020 at 3%. (“Bank Negara surprises by raising OPR to 3%”, The Star, May 3; online at bit.ly/star_opr.)
This move was seen as a response to the US Federal Reserve Bank’s expected interest rate hike, which happened a day after Bank Negara’s rate increase.
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