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Malaysia maintains key rate at 3%, expects sustained growth

Bank Negara’s decision widely expected by market watchers, with some economists forecasting that the central bank will stand pat on rates until at least 2026

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Tan Ai Leng

Tan Ai Leng

Published Wed, Nov 6, 2024 · 04:43 PM
    • Malaysia’s firm recovery and low inflation support Bank Negara's decision to extend its rate pause, even as central banks worldwide pivot to easing.
    • Malaysia’s firm recovery and low inflation support Bank Negara's decision to extend its rate pause, even as central banks worldwide pivot to easing. PHOTO: REUTERS

    [KUALA LUMPUR] Malaysia’s benchmark interest rate remains unchanged at 3 per cent, said Bank Negara on Wednesday (Nov 6).

    The country’s overnight policy rate (OPR) has held steady at 3 per cent since its last hike of 25 basis points in May 2023.

    The central bank noted that the current OPR level continues to support economic growth, although it acknowledged that the outcome of the US elections may increase volatility in the near term, in particular to the currency movement.

    Bank Negara MalaysiaMalaysia economyInterest ratesAseanAsean Business

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