In light of the recent announcement of the Overnight Policy Rate (OPR) during Bank Negara Malaysia’s recent Monetary Policy Committee (MPC) meeting on 11 May 2022, we would like to share a quote by Shylendra Nathan, Country Manager - iProperty.com.my on the announcement.
“We are supportive of Bank Negara Malaysia’s decision to increase the Overnight Policy Rate (OPR) gradually in line with improving economic conditions such as the transition towards COVID-19 endemicity, the latest relaxation of travel measures, and expected consumer spending growth in 2022.
As we have mentioned previously, a gradual and measured increase of the OPR is necessary for Malaysian consumers to adapt to rising interest rates and better prepare their finances. Furthermore, a progressive rise in the OPR will accommodate the country’s broader economic recovery given the prevailing inflationary pressure.”
