Current OPR level adequate

KUALA LUMPUR – AmBank Group believes the current Overnight Policy Rate (OPR) of 1.75% is at an adequate level, reported Bernama.

Group chief executive officer Datuk Sulaiman Mohd Tahir said any changes or reduction at this stage would not make much difference.

Currently, the OPR is already at a depleted level, he said when asked to comment on Bank Negara Malaysia’s (BNM) move to maintain OPR at 1.75% at its first Monetary Policy Committee meeting for this year, on January 21.

Sulaiman added an OPR review will be made, depending on the situation.

Moreover, in announcing the move yesterday, BNM said the MPC considered the stance of monetary policy to be appropriate and accommodative while remaining committed to utilize its policy levers as appropriate to create enabling conditions for a sustainable economic recovery.

“Given the uncertainties surrounding the pandemic, the stance of monetary policy going forward will be determined by new data and information, and their implications on the overall outlook for inflation and domestic growth,” said BNM.