KUALA LUMPUR, March 7 – Today, Bank Negara Malaysia’s Monetary Policy Committee (MPC) announced its decision to maintain the Overnight Policy Rate (OPR) at 3.00 percent. This decision reflects the committee’s comprehensive evaluation of both domestic and global economic conditions. Despite the backdrop of moderate global economic expansion, supported by domestic demand and trade activity improvements, the MPC remains cautious due to persistent downside risks such as geopolitical tensions and financial market volatility.
In Malaysia, the economy expanded by 3.7% in 2023, with growth expected to strengthen in 2024, primarily driven by export recovery and resilient domestic expenditure. While inflation remains moderate, efforts are underway to address the undervaluation of the ringgit. The MPC’s decision underscores its commitment to supporting sustainable economic growth and ensuring price stability, while remaining adaptable to evolving economic dynamics.
