Malaysian central bank holds rate

Inflation in Malaysia has slowed but the ringgit is under pressure

bank-negara-malaysia

Malaysia’s central bank kept its interest rate unchanged for the third straight meeting today (November 2), despite a weak exchange rate and recent rate hikes by its regional peers in the Philippines and Indonesia.

Bank Negara Malaysia’s (BNM) monetary policy committee decided to keep the overnight policy rate (OPR) at 3%.

The central bank’s decision came a day after the US Federal Reserve kept the target for the feds fund rate unchanged between 5.25% and 5.5% for the second meeting on

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