Malaysia’s central bank holds policy rate

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

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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