Malaysia’s central bank holds policy rate

Decision comes after headline inflation fell to one-year low but core inflation remains higher

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Bank Negara Malaysia

Malaysia’s central bank kept its policy rate unchanged at its first meeting since governor Abdul Rasheed Ghaffour took office earlier this month.

Bank Negara Malaysia’s (BNM) eight-member monetary policy committee held the overnight policy rate (OPR) steady at 3% on July 6.

Malaysia’s headline inflation was 2.8% year on year in May, the slowest in a year. It has fallen for nine months in row since peaking at 4.7% in August last year.

Core inflation, which excludes volatile items, fell to 3.5%

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