Malaysia: Bank Negara is back on hold - ANZ

ANZ analysts’ point out that as per expectations, Bank Negara Malaysia (BNM) has maintained its Overnight Policy Rate (OPR) at 3.00% today.

Key Quotes

“In aggregate, the policy statement remained cautious on growth but at the same time, seems a little less bearish than in March and May.”

“Importantly, the lack of a comment on “downside risks” in the last paragraph of the policy statement, which in the past has been a precursor to a rate cut, suggests that BNM will keep rates unchanged at its next meeting and likely through the year.”