Bank Negara Malaysia likely to maintain Overnight Policy Rate, impacts on MYR expected

  • Investing.com
Bank Negara Malaysia likely to maintain Overnight Policy Rate, impacts on MYR expected

Bank Negara Malaysia (BNM) is set to hold its Monetary Policy Committee (MPC) meeting on September 6-7, 2023, with the Overnight Policy Rate (OPR) expected to remain unchanged at 3%, according to analysis by OctaFX. This decision is anticipated due to the steady growth of the Malaysian economy.

The domestic financial market and the ringgit exchange rate have been primarily influenced by expectations that the US Federal Reserve's monetary tightening cycle was nearing its end. If the MPC decides to keep the OPR unchanged, it could potentially cause the USD/MYR exchange rate to reach between 4.5000 and 4.5500.

On a related note, headline inflation in Malaysia has shown a decline, registering at 2% in July as per the Monetary and Financial Developments report by BNM.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

Error: File type not supported

Drop an image here or

100

Related Articles