Overnight Policy Rate raised by another 25bps to 2.75%. BNM yesterday raised the Overnight Policy Rate (OPR) by another 25bps to 2.75% as part of its move to normalise interest rates. While we had expected another 25bps hike in 2H2010, we had anticipated this to take place at the Sep policy meeting. BNM has now raised the OPR by a total of 75bps this year following earlier OPR hikes in Mar and May (each time by 25bps) and with that, we think BNM is likely to keep the OPR unchanged for the rest of the year.
Banking - BNM Raises OPR By 25bps To 2.75% - 9/7/2010
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