Thursday, May 5, 2011

Malaysia Central Bank Increases Rate 25bps to 3.00%

The Bank Negara Malaysia increased the Overnight Policy Rate (OPR) by 25 basis points to 3.00% from 2.75% and the floor and ceiling rates of the corridor for the OPR were also raised to 2.75 percent and 3.25 percent respectively.  The Bank also increased the Statutory Reserve Requirement (SRR) Ratio from 2.00% to 3.00%, effective from 16 May 2011.  Malaysia saw inflation of 3% in March, bringing the average to 2.8% for the first quarter of 2011.  On inflation the bank noted "the increase was mainly due to higher food and fuel prices."


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