BNM likely to maintain OPR at 2.75%, say analysts FMTNews FMTBusiness
Analysts have predicted that Bank Negara Malaysia will maintain the overnight policy rate at 2.75% in the next monetary policy committee meeting.
It said that the central bank had hit the brakes on its policy normalisation cycle during the first two MPC meetings in 2023 to assess the impact of the cumulative 100 basis-point OPR hikes on the economy. Sharing the same view, RHB Investment Bank said it expected the central bank to keep the OPR status quo to further assess the lagged impact of the previous consecutive hikes amid a challenging external environment, with the headline inflation rates showing signs of stabilisation.
RHB said the negative carry for holding the ringgit against the US dollar is unlikely to fade quickly in the short term as the central bank is falling behind the inflation curve and has yet to provide concrete guidance on what the peak OPR would be after having been in pause mode since November 2022.
However, it warned that a more subdued global trade activity may pose negative impacts on export growth and the manufacturing sector.
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