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MIDF Research: Bank Negara likely to keep OPR unchanged this year

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KUALA LUMPUR (Bernama) -- MIDF Research maintained its view that Bank Negara Malaysia (BNM) will not make any changes to the overnight policy rate (OPR), which stood at 1.75%, as the current rate remains accommodative to support Malaysia’s economic recovery.

In a research note today, the brokerage viewed the targeted containment measures in several areas including Selangor and Kuala Lumpur to be a temporary downside risk amid the recent rise in COVID-19 cases.

MIDF Research said BNM’s decision to maintain OPR at the current level was to ensure economic recovery to be more entrenched amid concern of any potential downside risks from the ongoing COVID-19 pandemic on Malaysia’s economic outlook. BNM added that the COVID-19 vaccination progress will play an important part to boost sentiment and support economic recovery while stronger growth in the external demand and rising domestic spending, both by the public and private sectors, will support Malaysia’s growth outlook. Meanwhile, RHB Investment Bank Bhd believed that BNM would remain focused on the recovery path in the second half of 2021.

 

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