Bank Negara Malaysia’s (BNM) Monetary Policy Committee (MPC) is set to announce its overnight policy rate (OPR) decision on November 2nd after its two-day meeting. Benedict Weerasena, Research Director of Bait Al Amanah was interviewed by Free Malaysia Today on whether BNM should raise the OPR to defend the weak ringgit, or hold it to boost domestic growth.
Weerasena reasoned that BNM should maintain the OPR at 3.00%. At this level, monetary policy remains accommodative and supportive of economic growth, in light of the slightly slower growth momentum and easing inflationary pressures.
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