Bank Negara Malaysia likely to keep OPR at 3%—OctaFX

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Media Outreach
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OctaFX analyses the likelihood of BNM keeping the Overnight Policy Rate (OPR) unchanged at 3% at the upcoming Monetary Policy Committee meeting on September 6-7. Learn about the potential impact on the Malaysian ringgit.

  • Headline inflation in Malaysia declined to 2% in July, according to the Monetary and Financial Developments by Bank Negara Malaysia (BNM).
  • The domestic financial market and the ringgit exchange rate were driven primarily by expectations that the US Federal Reserve’s monetary tightening cycle was nearing an end.
  • The Overnight Policy Rate (OPR) is unlikely to be raised at the next meeting, as the Malaysian economy is growing steadily.
  • If the Monetary Policy Committee leaves the rate unchanged, USDMYR could hit 4.5000–4.5500.

KUALA LUMPUR, MALAYSIA – Media OutReach – 4 September 2023 – The Monetary Policy Committee (MPC) of the Bank Negara Malaysia (BNM) will meet on 6-7 September to decide on monetary policy.

OctaFX is an international broker that has been providing online trading services worldwide since 2011. It offers commission-free access to financial markets and various services already utilised by clients from 180 countries who have opened more than 42 million trading accounts. Free educational webinars, articles, and analytical tools they provide help clients reach their investment goals.

The company is involved in a comprehensive network of charitable and humanitarian initiatives, including the improvement of educational infrastructure and short-notice relief projects supporting local communities.

In the APAC region, OctaFX captured the ‘Best Forex Broker Malaysia 2022’ and the ‘Best Global Broker Asia 2022’ awards from Global Banking and Finance Review and International Business Magazine, respectively.