Bank Negara Malaysia (BNM) kept the Overnight Policy Rate (OPR) at 2.75% on 5 November, at the last Monetary Policy Committee (MPC) meeting of 2026. It is the eighth meeting in a row without a change.
No Change Since The July 2025 Cut
BNM last changed the OPR on 9 July 2025, when it cut the rate by 0.25 percentage points from 3.00%. That was its first move since a 0.25 point increase in May 2023.
Strong Growth And Contained Inflation Support The Hold
BNM said global growth remains resilient, supported by strong technology investment and steady labour markets. It expects Malaysia’s economy to grow above 5% in 2026, helped by strong exports and firm domestic demand.
Headline inflation averaged 1.8% and core inflation averaged 1.9% so far this year. Higher energy costs are pushing up consumer prices, and BNM expects both measures to rise somewhat in 2027 but stay contained. It judges the current rate to be consistent with price stability and sustainable growth.
Your Floating-Rate Instalments Stay The Same
Floating-rate loans, including home and car financing, are the ones that follow the OPR. Their instalments should stay the same after this decision.
Each 0.25 Point Rise Adds About RM58 On A RM400,000 Loan
A 0.25 percentage point rise in the OPR would add about RM58 a month to a RM400,000 home loan over 30 years. This assumes the loan rate goes from 4.00% to 4.25% and the bank passes on the full increase. The instalment would go from about RM1,910 to about RM1,968.
BNM’s next MPC meeting is on 21 January 2027.
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