BNM reduces OPR to 2.75 per cent

KUALA LUMPUR - Bank Negara Malaysia’s (BNM) Monetary Policy Committee (MPC) has reduced the Overnight Policy Rate (OPR) by 25 basis points to 2.75 per cent today.

BNM said the ceiling and floor rates of the corridor of the OPR are correspondingly reduced to three per cent and 2.5 per cent, respectively.

"The latest indicators point towards continued expansion in global growth, supported by sustained consumer spending and to some extent, front-loading activities.

"The global growth outlook would remain supported by positive labour market conditions, less restrictive monetary policy and fiscal stimulus,” it said in a statement today.

BNM last kept the OPR at 2.75 per cent in March 2023. It was increased to three per cent in May 2023. - BERNAMA