CIMB IB: Bank Negara to Keep OPR at 2.75%
CIMB IB Expects Bank Negara to Maintain OPR at 2.75% in Final MPC Meeting
By IFCCI News Desk
CIMB Investment Bank (CIMB IB) expects Bank Negara Malaysia (BNM) to maintain the Overnight Policy Rate (OPR) at 2.75% in its final Monetary Policy Committee (MPC) meeting for the year, citing balanced inflationary pressures and a measured economic growth trajectory.
In its latest note, the research house said that while Malaysia’s inflation remains manageable, global monetary policy dynamics and domestic consumption trends suggest no immediate need for rate adjustments. “We anticipate BNM to maintain a data-dependent stance, ensuring policy continuity while supporting domestic demand stability,” CIMB IB stated.
BNM last adjusted the OPR in May 2023, when it raised the benchmark rate to 2.75%. Since then, the central bank has signalled a neutral monetary position amid persistent global uncertainties and divergent policy paths among major economies.
CIMB IB added that recent indicators — including a firm labour market, resilient private consumption, and stable credit conditions — support the case for policy stability. It expects inflation to average between 2.5% and 3.0% in 2025, aligning with BNM’s target range.
The investment bank also noted that a steady OPR could help sustain investor confidence and ringgit stability as Malaysia navigates external headwinds and subdued export momentum.
Economists expect the MPC to maintain its cautious tone, reaffirming that the current policy rate remains appropriate to support sustainable growth and price stability.
IFCCI Editorial Analysis:
The expectation for policy stability underscores Malaysia’s commitment to maintaining macroeconomic resilience amid global rate adjustments. The decision will also be closely watched by market participants assessing regional capital flows and monetary alignment within ASEAN.
