Malaysian MPC raises interest rate for third successive meeting

bank-negara-malaysia
Bank Negara Malaysia

Malaysia’s central bank raised its benchmark interest rate for the third consecutive meeting today (September 8) as inflation continued to rise above target.

Bank Negara Malaysia’s nine-member monetary policy committee decided to raise the overnight policy rate (OPR) by 25 basis points to 2.5%. The move brought the rate to its highest level since May 2020. The last time the BNM delivered three consecutive 25bp hikes was in 2010.

The rate hike comes after consumer price inflation in Malaysia

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