Higher For Longer OPR?

As widely expected, Bank Negara maintained the overnight policy rate at 3% in its final meeting of the year. There has been no change to the rate since the last hike in May and with inflation at benign levels, it wasn’t a surprise. But there is competing interest with the ringgit, one the worst performing currencies in the region whilst growth is slowing. What then does this mean for our monetary policy? Woon Khai Jhek, Head of Economic Research and Senior Economist at RAM Ratings tells us.

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