00:00Bank Negara Malaysia has cut the overnight policy rate or OPR by 25 basis points to 2.75%
00:09during its July Monetary Policy Committee meeting on Wednesday.
00:13This marks the central bank's first rate adjustment since May 2023.
00:18In a statement, Bank Negara said the ceiling and floor rates of the OPR corridor
00:22have been reduced to 3.0% and 2.5% respectively.
00:26The central bank noted that while Malaysia's domestic economy remains on solid footing,
00:31the outlook is clouded by growing global uncertainties, including tariff actions and geopolitical tensions.
00:37Bank Negara described the rate cut as a preemptive measure,
00:40aimed at preserving steady economic growth amid moderate inflation prospects.
00:44The MPC added that it will continue to monitor global and domestic developments closely
00:49and assess the balance of risks moving forward.
00:51As for the ringgit, Bank Negara stated that although its performance is primarily influenced by external factors,
00:58Malaysia's positive economic outlook and ongoing structural reforms
01:01will continue to provide support for the currency.
Comments