OPR increase will not negatively affect Malaysia’s housing market – Juwai IQI

Bank Negara Malaysia’s (BNM) decision to lift the Overnight Policy Rate (OPR) by 25 basis points to 2.00 percent recently will not negatively affect the housing market in 2022 and 2023.

Juwai IQI group co-founder and chief executive officer Kashif Ansari said BNM has taken a careful step in supporting the nation’s economy even during the worst of the pandemic.

“Inflation is on a rampage in many parts of the world, but it is not on a rampage in Malaysia with headline inflation will likely be somewhere between 2.2 per cent and 3.2 per cent this year.”

In the wake of the global financial crisis between 2004 and 2020, he noted that Malaysia’s OPR only dropped as low as 2,0 per cent during eight quarters, hence, the past two years represented the first time in history that the rate was as low as 1.75 per cent.

Read more: Bernama, The Edge, Focus Malaysia, Sinar Daily

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