afternoon highlight (09/09/11/157/465) Bank Negara’s overnight policy rate stays at 3%

Bank Negara’s overnight policy rate stays at 3%

PETALING JAYA: The overnight policy rate (OPR) remained unchanged at 3% after Bank Negara's monetary policy committee meeting yesterday.
In a statement, the central bank said recent indicators in the domestic economy pointed to slower growth in external demand following the weaker global economic environment.
It noted that domestic growth prospects, however, continued to remain positive, underpinned by the expansion in private consumption and private investment.
“Moving forward, the more challenging external environment has, however, increased the downside risks to the domestic economy.”
The central bank also said that going forward, inflation is expected to remain relatively stable for the rest of the year.
It added: “While inflation remains a concern, the increased uncertainties on the global and domestic economic growth prospects and their potential consequences could have a moderating impact on inflation.”
Source : The Star
Date : 9 September 2011
afternoon highlight (09/09/11/157/465)