Macro Analysis /
Malaysia

MY : Economic - MPC: OPR on hold amid economic re-opening

    CGS-CIMB
    12 September 2021
    Published byCGS-CIMB

    BNM maintained the OPR at 1.75% amid easing Covid-19 curbs and continued fiscal and financial support. With risks to GDP outlook tilted to the downside, we expect BNM to be patient in lifting monetary accommodation. We expect monetary policy normalisationto begin only in 2H22, compared to our previous projection of 2Q22.