PETALING JAYA, September 6 — Bank Negara Malaysia (BNM) has kept the Overnight Policy Rate (OPR) unchanged at 3% following its two-day Monetary Policy Committee meeting. This decision, aimed at supporting Malaysia’s economic growth, was widely expected by economists. BNM stated that the current rate is conducive to sustainable growth while maintaining price stability, with a focus on inflation and growth prospects.
BNM noted that the Malaysian economy showed resilience in the second quarter of 2024, driven by strong domestic spending and improved export performance. The central bank expects exports to gain momentum, supported by the global tech upcycle and increased tourist activity. However, it cautioned that external demand and commodity production pose potential risks to growth. Inflation is projected to rise slightly in the second half of 2024, but will remain within earlier forecasts.
