BNM raises OPR by another 25 bps to 2.25%

PETALING JAYA: The monetary policy committee (MPC) of Bank Negara Malaysia announced today that it has raised the overnight policy rate (OPR) by 25 basis points, raising it to 2.25%.

This came amid rising food and energy prices.

The ceiling and floor rates of the corridor of the OPR are correspondingly increased to 2.5% and 2%, respectively.

In May, the central bank raised the OPR to 2% from 1.75%, reportedly the lowest on record, following a 25 bps cut in July 2020, citing the severity of the global economic slowdown as a result of the pandemic and the contraction of Malaysia’s economic activity. — Free Malaysia Today

MORE TO COME