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Malaysia: Monetary Policy Meeting

(Updated )

Bank Negara Malaysia (BNM) left its overnight policy rate (OPR) on hold (at 3.00%) today, and the tone of its statement supports our view that rates will be left unchanged throughout 2024. The decision was correctly predicted by all 30 economists polled by Reuters (including ourselves). BNM’s last move was a 25bp hike in May 2023.

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