Another 25 basis points increment to our OPR. This is the 3rd increment in the year 2010. The first increment was back in 4th March, whereby the rate was increased from 2.00 percent to 2.25 percent. The second increment was in 13th May 2010, where the rate was increased from 2.25 percent to 2.50 percent. On July 7th, the rate is now officially 2.75 percent.
In just half a year, the OPR has been raised 0.75 percent. You might need to negotiate harder to get a better deal for your loans now.
At the Monetary Policy Committee (MPC) meeting today, Bank Negara Malaysia decided to raise the Overnight Policy Rate (OPR) by 25 basis points to 2.75 percent. The floor and ceiling rates of the corridor for the OPR are correspondingly raised to 2.50 percent and 3.00 percent respectively.
The global recovery has continued in the second quarter, supported by robust and broad-based growth in most emerging economies, in particular Asia , and a moderate recovery in the advanced economies. Nevertheless, volatility in the international financial markets has increased following concerns over the ongoing sovereign debt crisis in several advanced economies. These developments have raised uncertainties on the potential impact on the international financial system and the global economic activity. Going forward, while the assessment is for the global recovery to continue, there is increased risk that the global growth momentum could moderate.
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