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Analysts at ANZ note that as per the expected lines, Bank Negara Malaysia (BNM) has cut its Overnight Policy Rate (OPR) by 25 basis points to 3.00%.

Key Quotes

“The BNM noted that the rate cut is intended to preserve a suitable degree of monetary accommodation given some tightening of domestic financial conditions.”

“We do not expect any further cuts, given the low amplitude of the OPR outside crisis periods.”