Bank Negara makes first rate hike since 2014

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Bank Negara Malaysia (BNM) has raised its benchmark rate for the first time since 2014, responding to continued strength in the economy.

At the policy meeting which ended today (January 25), BNM decided to increase the overnight policy rate by 25 basis points to 3.25%, with corresponding changes in the floor and ceiling of the rate corridor.

“With the economy firmly on a steady growth path, the MPC [monetary policy committee] decided to normalise the degree of monetary accommodation,” BNM says

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