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BNM maintains OPR at 1.75% at final monetary policy meeting for 2020
Nov 03, 2020
KUALA LUMPUR (Nov 3): Bank Negara Malaysia (BNM) has decided to maintain the Overnight Policy Rate (OPR) at 1.75% today as the country’s economic activity is projected to improve further and as the central bank expects the nation’s underlying inflation to remain subdued as the world economy contends with the resurgence in Covid-19 cases.
In a statement today, BNM said the global economy continues to recover, led by improvements in manufacturing and export activity although the resurgence in Covid-19 cases suggests that the global economic recovery will likely remain uneven in the near term.
"For Malaysia, the latest indicators point towards significant improvement in economic activity in the third quarter. The introduction of targeted measures to contain Covid-19 in several states could affect the momentum of the recovery in the fourth quarter. Nonetheless, growth for the year 2020 is expected to be within the earlier forecasted range.