1 MIN READOPR cut a tactical move – Shan Saeed

Bank Negara Malaysia’s (BNM) overnight policy rate (OPR) cut yesterday is considered as a “tactical” move to keep the growth momentum intact and provide sufficient liquidity in the market, an economist said.

“It gives banks clear forward guidance that interest rate would be lowered in a structured manner in the months to come,” IQI Global chief economist Shan Saeed told Bernama.

He said central banks around the globe would keep a lower discount rate in order to ward off a recession.

“Bank Negara is one of the few central banks which has a lot of room to manoeuvre through monetary policy, and it wants to keep the fair market value of the ringgit to meander around 4.05 to 4.11 against the US dollar in line with market expectation,” he said.

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Source: Bernama

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