• BNM left OPR at 3.25%
• Inflation is projected to average moderately higher
• Economy is expected to remain on a steady growth path
• BNM to leave OPR on hold

The Monetary Policy Committee (MPC) of Bank Negara Malaysia left the Overnight Policy Rate (OPR) unchanged at 3.25% at its first monetary policy meeting for 2019. The decision is widely expected and timely as global and domestic macroeconomic indicators are reflecting moderating signs. Nevertheless, we expect Malaysia’s GDP growth to remain firm this year buoyed by robust domestic spending as stable labour market, continued wage growth and benign inflation will continue to support private consumption.

Source: BIMB Securities Research - 25 Jan 2019