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MNI BRIEF: Malaysian CB Surprises with 25bps Rate Hike

MNI (Sydney)
SYDNEY (MNI)

First rate hike since July 2020.

Malaysia’s central bank on Wednesday surprised with a 25 basis point rise in its Overnight Policy Rate today, the first movement in rates since July 2020.

Bank Negara Malaysia’s Monetary Policy Committee increased the OPR to 2.0%, with the ceiling and floor rates of the OPR corridor correspondingly increased to 2.25% and 1.75%, respectively, See: MNI STATE OF PLAY: Malaysia's BN Eyes H2 "Measured" Tightening.

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Malaysia’s central bank on Wednesday surprised with a 25 basis point rise in its Overnight Policy Rate today, the first movement in rates since July 2020.

Bank Negara Malaysia’s Monetary Policy Committee increased the OPR to 2.0%, with the ceiling and floor rates of the OPR corridor correspondingly increased to 2.25% and 1.75%, respectively, See: MNI STATE OF PLAY: Malaysia's BN Eyes H2 "Measured" Tightening.

Keep reading...Show less