Malaysia: Central Bank maintains key policy rate at 3.00%
November 8, 2012
At its 8 November monetary policy meeting, the Central Bank left the Overnight Policy Rate (OPR) unchanged at 3.00%, in a move that was widely expected by the market. The Bank has maintained its policy rate at the current level since May 2011. Bank Negara Malaysia stated that the global economy remains weak and uncertainties surrounding growth prospects for advanced economies persist. On the domestic front, the Bank acknowledged that robust domestic activity has offset the weaknesses seen in the external sector, while inflationary pressures are expected to remain subdued for the reminder of 2012 and then slightly increase in 2013.