BNM to keep OPR at 3 pct until year-end
KUALA LUMPUR: Research firms expects Bank Negara Malaysia (BNM) to keep the Overnight Policy Rate (OPR) unchanged at 3.0 per cent for the rest of 2023. Hong Leong Investment Bank (HLIB) and CGS-CIMB Securities Sdn Bhd said the outlook was in view of the anticipation for growth and inflation to moderate in the second half […]
Ringgit more sensitive to commodity price movement than Asian peers, says expert
By Karina Imran KUALA LUMPUR: The ringgit is far more sensitive to the movement of commodity prices than its Asian peers, said Employees Provident Fund chief strategy officer Nurhisham Hussein. In an interview with Bernama recently, he shared his views regarding the weakness of the ringgit and equities market. Right off the bat, Nurhisham opined […]
Ringgit opens higher ahead of BNM’S MPC meeting
KUALA LUMPUR: The ringgit opened higher against the US dollar and other major currencies this morning, in anticipation of Bank Negara Malaysia’s (BNM) decision on the overnight policy rate (OPR). At 9 am, the local unit rose to 4.6445/6515 versus the greenback compared to 4.6480/6525 at Tuesday’s close. The two-day Monetary Policy Committee (MPC) meeting […]
BNM reviewing PTV as claim rate only 0.01 pct: Ahmad Maslan
KUALA LUMPUR: Bank Negara Malaysia (BNM) is reviewing the Perlindungan Tenang Voucher (PTV) programme after the scheme, which was introduced in 2021 recorded low claim rates, the Dewan Rakyat was told today. Deputy Finance Minister Datuk Seri Ahmad Maslan said the programme was discontinued after a study conducted by BNM found that out of the […]
Bank Negara likely to hold OPR at 3 pct for rest of 2023
KUALA LUMPUR: Bank Negara Malaysia (BNM) has reached the end of its hiking cycle and will leave the overnight policy rate (OPR) at 3 per cent for the rest of 2023, said BMI. The research firm, which is a unit of Fitch Solutions, said BNM would increasingly turn its focus to supporting growth over the […]
OPR hike painful but necessary to save consumers
KUCHING: Bank Negara Malaysia (BNM) has raised the Overnight Policy Rate (OPR) to address inflation concerns, contradicting claims that higher OPR would increase the cost of living. Centre for Market Education (CME) economist Dr. Carmelo Ferlito explained that inflation occurs when the quantity of money in circulation grows faster than the output (Gross Domestic Product). […]
Investors may shift funds from equities to fixed-income investments
KUCHING: The interest rate hike by Bank Negara Malaysia (BNM) can have both positive and negative effects on businesses, opines an economist. Dr Moslem Anoar explained that the increased Overnight Policy Rate (OPR) would have ultimate impact towards specific industry, company size, and reliance on borrowed funds. “Additionally, the effectiveness of the rate hike in […]
Keep politics out of BNM
KUCHING: The Bank Negara Malaysia (BNM) must firmly maintain its independence as an institution, free from any form of political influence. Universiti Malaysia Sarawak (UNIMAS) economist Jerome Kueh emphasised that the BNM’s primary role is to maintain monetary stability and support sustainable economic growth, rather than pursuing short-term political agendas. He warned against government interference […]
Analysts positive on banking sector
KUALA LUMPUR: Research houses have maintained their positive stance on the banking sector following Bank Negara Malaysia’s (BNM) optimism about the overall standing of the Malaysian economy and financial system. In a note, Kenanga Research said it concurred with BNM’s confidence in the domestic financial system, assured by the sector’s strength, resilience and overall stellar […]
Bank Negara Malaysia expected to hold OPR til year-end
KUALA LUMPUR: Kenanga Research foresees that Bank Negara Malaysia (BNM) has reached the end of its monetary tightening cycle and will keep the Overnight Policy Rate (OPR) unchanged at 2.75 per cent for the rest of the year. This is predicated on a further downtrend in headline and core inflation to below 3.0 per cent […]
