KUALA LUMPUR – Bank Negara Malaysia (BNM) will assess the impact of raising the overnight policy rate (OPR) by 100 basis points (bps) in 2022 on the Malaysian economy before taking any further action, said assistant governor Fraziali Ismail.
He said that the OPR was gradually increased to 2.75% and that the central bank must evaluate the effects of raising interest rates on the current state of Malaysia’s economy.
“We are on track to achieve the targets – for example, this year, for inflation to be between 2.8% and 3.8%, and economic growth to be between 4% and 5%,” he told reporters after the annual BNM Governor’s Address on the Malaysian Economy forum organised by the Malaysian Economic Association today. – Bernama, April 3, 2023
