{"id":58317,"date":"2023-09-05T16:13:06","date_gmt":"2023-09-05T08:13:06","guid":{"rendered":"https:\/\/www.imoney.my\/articles\/?p=58317"},"modified":"2023-09-05T16:13:06","modified_gmt":"2023-09-05T08:13:06","slug":"will-bnm-raise-opr-again","status":"publish","type":"post","link":"https:\/\/www.imoney.my\/articles\/will-bnm-raise-opr-again","title":{"rendered":"Will BNM Raise The OPR Again?"},"content":{"rendered":"

Bank Negara Malaysia (BNM) and the Monetary Policy Committee (MPC) will hold its meeting on 7 September to decide whether it will change the overnight policy rate (OPR) again.<\/span><\/p>\n

But what do experts think will happen to the OPR? Will they maintain the current 3% or raise it up?<\/p>\n

<\/span>Maintaining the OPR at 3% till year-end<\/span><\/h2>\n

A poll conducted by Reuters<\/a> among economists believes that BNM will not make any changes and hold the key policy rate at 3%, adopting the same no-change stance as most of its Asian peers amidst signs of moderating economic growth and cooling inflation.<\/p>\n

The central bank, which doesn\u2019t particularly target inflation by setting monetary policy, said that the inflation will continue to cool down as it hits a two-year low of 2% in July among Southeast Asian countries.<\/p>\n

Similar views were shared by OCBC\u2019s senior ASEAN economist Lavanya Venkateswaran who believes that BNM will keep its monetary policy stance on hold until the end of the year.<\/p>\n

\u201cWe believe that BNM is now more sanguine about the growth and inflation outlooks but stopped short of sounding less hawkish,\u201d he said in a note issued after the central bank\u2019s decision to keep the OPR at 3% back in July.<\/p>\n

<\/span>A slight raise on the OPR<\/span><\/h2>\n

While the majority of experts believe that BNM is likely to maintain the OPR at 3%, there are a few who think a slight hike is coming.<\/p>\n

CGS-CIMB Research<\/a> economists Nazmi Idrus and Mas Aida Che Mansor said that a bump of 25 basis points (bps) will be introduced by BNM after the 7 September meeting.<\/p>\n

\u201cWe believe there could be one more OPR hike by end-2023 to 3.25%. A key risk is whether a global slowdown could be sharper than expected. If this happens, there is a possibility that Bank Negara Malaysia (BNM) may halt the rate hike cycle despite ongoing improvements in the domestic economy,\u201d they said in a report for investors.<\/p>\n

Despite the positive outlook on the economy, demonstrated by the formal announcement of the lifting of the COVID-19 monetary stimulus, the report by CGS-CIMB highlighted key risks that could lead to a rise in OPR.<\/p>\n

One such key risk is whether a global slowdown could be sharper than expected. If it happens, then there is a possibility that BNM may halt the rate hike cycle despite ongoing improvements in the domestic economy.<\/p>\n

Read more: BNM Keeps OPR At 3.00%<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

A decision is expected to be made on 7 September, Thursday on the interest rates policy.<\/p>\n","protected":false},"author":47,"featured_media":52730,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[271,256,216],"tags":[1046,521,522,1403,826,1402,1233],"class_list":["post-58317","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-lifestyle","category-news-updates","tag-asean","tag-bank-negara-malaysia","tag-bnm","tag-monetary-policy-committee","tag-opr","tag-reuters","tag-southeast-asia"],"acf":[],"yoast_head":"\nWill BNM Raise The OPR Again?<\/title>\n<meta name=\"description\" content=\"BNM will make a decision on 7 September on whether the current OPR rates will either increase, decrease, or remain the same.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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