Following today’s monetary policy committee (MPC) meeting, Bank Negara Malaysia (BNM) has decided to maintain the overnight policy rate (OPR) at 3%. This is the same rate set earlier in May this year when BNM increased the OPR by 0.25%. Prior to that, the OPR was pegged at 2.75% twice in January and March.
“At the current OPR level, the monetary policy stance is slightly accommodative and remains supportive of the economy. The MPC continues to see limited risks of future financial imbalances,” the central bank said in a release.
Car loans are affected by the OPR, with higher rates resulting in hire purchase loans becoming more expensive and potentially harder to gain approval. This has an impact on car sales, with the Malaysian Automotive Association (MAA) saying in January it expects total industry volume in 2023 to decline after a record 2022.
BNM also noted that headline inflation has continued to ease amid lower cost factors. “While core inflation has also moderated, it remains elevated relative to the long-term average amid lingering demand and cost factors,” it added.
Looking to sell your car? Sell it with Carro.
Anwar menang, OPR maintained, rakyat senang lenang.
Election coming of course he dun dare. Wait one after election sure shoot up to 3.50 then everyone but PH cronies die..
Fellas if you want PH to strictly maintain OPR do what is right, stop voting them.
Shouldn’t BNM be politically neutral?
It was BNM that “help” to destroy PN Najib. Without their prodding, he wouldn’t be in jail today.
same should be said for:
-PDRM
-MACC
-AG
-PAS (religion shouldn’t be politicized)
Crying Crony, you saying PN is better than PHBN rule. Why are you so defensive and also look at what PN have done to us during pandemic time, did you think that many malaysians still want to support PN when already fail to malaysians? Where is your brain?
Opr was raised 4 times during PN/PAS failed govt.
Save ourself & save Malaysia. STOP voting Pn.Pas
Sorry, no one cares. With corrupt minister and ringgit become weaker, clearly current government is more useless than previous one.
Clearly that you don’t read history aren’t you, PN Cybertroopers. You should know why PN government is more useless than current government. Even PHBN government have five right price for Chery unlike PN gives high price which to protect Mercedes policy
Clearly that you don’t read history aren’t you, PN Cybertroopers. You should know why PN government is more useless than current government. Even PHBN government have right price for Chery unlike PN gives high price for all brands which to protect Mercedes policy
32mil Msians stronk confidence in PHBN govt !!
Feels bad man. Our currency is continuing to tank while BNM chooses to sacrifice 30,000,000 people to save like 50k who may go bankrupt if OPR is increased.
worst part is opr increas “suppose” to strengthen currency. but why we see ringgit drop? its proof that ours economy is bad, no confidence.
Menteri kewangan terbaik asia kentut
Better than PN. Why PN is real fail government and fail to the people
– Emergency declaration for bad reasons for staying in power
– RM Currency also losing a lot to other countries
– Price hike for foods and others including poor and middle but only cares for rich
– PN politicians are traitors but wanting power to stay longer but not caring to the poor and middle but caring for rich
OPR remain but car price already up
LPPL
ringgit value is like dirt when outside of malaysia …
essential goods are also traded in usd, so everything u eat or buy have also increased by 20-30%.
what’s the plan to improve this part of the equation BNM?
Tax more of the poor and feeding the rich while telling the poor they are going to charge the rich which is a lie because the rich will pass on the cost to the poor. So the poor gets doubly taxed while the rich gets doubly richer.
The LHDN is already taxing the poor more than the rich for a long time already. The rich are also the employers who pay salaries to the poor. So, if the rich wants to profit more from the poor by raising prices, eventually the poor won’t be able to afford to buy, leading to a drop in sales which can cause the rich to close down their businesses & the poor will lose their jobs. With their businesses closed down, the rich will also eventually become poor.
How does LHDN tax the poor when the poor don’t pay taxes? Makes no sense.
when Angry Voters & fellow classmate study economics at warung kopi.
b40 aren’t even taxes la dodo
Ever heard of SST dodo?
It’s time for us to dump USD and use currency backed by gold in trading. Join BRICS?
@anythingbutUS, I agree with you 100%. The whole world work so hard and the US gov just press a button to print money out of thin air and buys tangible stuff from everyone. This is madness. The world is getting cheated. The US has nothing important to trade with other than their paper money backed by thin air. BRICS is the way forward to prevent us from major recession. When the US needs to buy things, they print money and increase interest rate so foreign countries will pay off their debts. What kind of system is that. USA hutang but orang lain bayar.
yse Chinese Yuan instead, especially for Asian countries.
I agree with you @MrFakta. But you must know, the way our democratic western system selects the people who run the office is as lousy as it gets. That is why we have OKU ministers that has very limited brain power to think of ways to make money for the people like other great leaders from other countries. Our OKU ministers can only make money FROM us. ” Budget kerajaan tak cukup tahun ini, macam mana boleh dapat wang?? Oh kita tax sama orang Malaysia saja senang. Mereka pun bukan pandai nak bising pun. Mereka mesti faham punya”…That is the reality. Meanwhile in Dubai, Brunei, China etc.. ” We need more budget this year to build more infrastructures to make the lives of our people better, what can we do?? Lets redirect more oil sales revenue for our people, lets invest in more businesses abroad and bring in m ore revenue for our people, we can improve trade relations with friendly and honest countries to make more money….” . Back in Malaysia ” Kita mesti jual lagi banyak AP, roadtax boleh up lagi tak? Tol kasi naik bagus juga….”
You blame our economic problems on our democratic system of government, but do note that even with an authoritarian government, PRC also have their own difficulties with their own economy. It seems Malaysian citizens tend to look to the government to solve every economic problem, expecting hard & fast solutions. Malaysian citizens forget that they possess a contributing factor that is important to the economy: PRODUCTIVITY. The problem is that now most of the productivity in the Malaysian economy comes from foreign workers. These foreign workers send back part of their salaries to their home countries, and give that there are many of them here in Malaysia, that would be a considerably huge amount of money flowing out of the country, which in part contributes to the MYR’s gradual depreciation in the global currency market. Unfortunately, many Malaysians are still oblivious to this & prefer to blame their government, political parties/coalitions & the politicians because it is easier to do.
Who is authoritarian regime? USA you mean, Europe and Ukraine? In China it is socialist/communist country. They have more good freedom than us in case you didn’t know.Only thing they are not free to do in china is to get away with stealing, not free to practice racism/terrorism, not free to be poor and hungry, not free to cause disharmony. Everything else you can do in china. Carry 1 million cash in dark alley also no one will steal from you. Communism = Community which means for the people.
You must have studied very hard at Pyongyang University & that’s why your brain is already drained. You better get rested, preferably for a long long time.. at a mental institution..
You must have felt uncomfortable with the term ‘Productivity’ & proceeded to try steering away from economics towards political ideology, mainly communism. Based on your comment, you must have most likely been born or grown up after the fall of the Soviet Union & thus have no 1st hand knowledge or experience of the events during the last cold war. I showed your comments to the people who had experienced that era, some of them who had family members in the older generation, whom had experienced the Emergency & fought against the communist insurgency in those days, and they said that your comment show that your views are skewed & shallow. Anyway, with respect to paultan.org , I’ll only try to respond to your future comment, provided it is related to this article’s core topic.
If you really can’t differentiate, you must have already been brainwashed in addition to being brain-drained.
Is this supposed to be a big surprise? Because this is already common knowledge since 1949.
In general, freedom should be good for everyone, but if you think that there is freedom that is bad for you, you should then lock yourself up.
They must have forgotten to tell you that there are also laws against such things in other parts of the civilized world.
That’s why they abandoned their inefficient communist state controlled market economy for the capitalist free market economy.
They must have also forgotten to tell you that there are also laws against this in other parts of the civilized world too.
Does it also include choosing anybody to run their government as long as it is the communist party?
That must be 1 million in Zimbabwean dollars..
That must be short for “A left-wing to far-left sociopolitical, philosophical, and economic ideology within the socialist movement, whose goal is a communist society, a socioeconomic order centered around common ownership of the means of production, distribution, and exchange that allocates products to everyone in the society based on need, which is in turn characterized by one-party rule by a communist party, the rejection of private property and capitalism, state control of economic activity and mass media, restrictions on freedom of religion, and suppression of opposition and dissent.”
which is why xikinping got 80% approval rating
that PRC citizens can choose anybody to run their government as long as it is the communist party. That’s why they can also give high approval rating to any government administration as long as it is the communist party & its leaders.
USSR had also used to pretend that it has high approval ratings from its citizens, but it wasn’t true & eventually USSR collapsed. PRC communist party managed to survive because it was lucky to have started reforming its economy towards capitalism after Mao Zedong’s death. Now it has to face the fact that when capitalism is successful, it means communism is a failure & already obsolete.
-Who is authoritarian regime? USA you mean, Europe and Ukraine?-
If you really can’t differentiate, you must have already been brainwashed in addition to being brain-drained.
-In China it is socialist/communist country.-
Is this supposed to be a big surprise? Because this is already common knowledge since 1949.
-They have more good freedom than us in case you didn’t know.-
In general, freedom should be good for us overall, but if you think that there is freedom that is bad for you, you should then lock yourself up.
-Only thing they are not free to do in china is to get away with stealing, not free to practice racism/terrorism-
They must have forgotten to tell you that there are also laws against such things in other parts of the civilized world.
-not free to be poor and hungry-
That’s why they abandoned their inefficient communist state controlled market economy for the capitalist free market economy.
-not free to cause disharmony-
They must have also forgotten to tell you that there are also laws against this in other parts of the civilized world too.
-Everything else you can do in china-
Does it also include choosing anybody to run their government as long as it is the communist party?
-Carry 1 million cash in dark alley also no one will steal from you.-
That must be 1 million in Zimbabwean dollars..
-Communism = Community which means for the people.-
That must be short for “A left-wing to far-left sociopolitical, philosophical, and economic ideology within the socialist movement, whose goal is a communist society, a socioeconomic order centered around common ownership of the means of production, distribution, and exchange that allocates products to everyone in the society based on need, which is in turn characterized by one-party rule by a communist party, the rejection of private property and capitalism, state control of economic activity and mass media, restrictions on freedom of religion, and suppression of opposition and dissent.”
this is quite true. We have missed a few MAJOR projects because our government (BN/PN at the time) because our investor policies are garbage. There was a very recent fibre project that involved mega companies like google, tencent, and we were chosen but we didnt care enough that it got stolen off our plates. Malaysians, we should stop being a poor 3rd world nation. we could have been better if our government is less OKU.
maintaining the opr will cause of RM to weaken.
malaysia can never compete with USA on interest rate
USA can print money, malaysia can?
TRY asking malaysia to defend the ringgit?
malaysia got more capital or USA forex traders got more capital?
dont know who support this decision, definitely not me, they continue to loose the atas pagar support.
hooray lesser statistics of bankruptcy property siezed gets auction off due to bad loans