BNM makes surprise 25bps hike in OPR to 3%
The rate hike, after two consecutive pauses in early 2023 at 2.
The rate hike, after two consecutive pauses in early 2023 at 2.
"We believe loan growth will be supported by the resilient household sector on the back of improved income and steady labour market conditions, as reflected in the lower unemployment rate,” Kenanga said.
“Her talent and experience make her an accomplished business leader, and we look forward to her contributions to PRG.
A quarter of household borrowers had DSRs exceeding 60%, and they accounted for 33.
According to AIBIM, financial institutions are required to stop imposing fees on housing loan and home financing documents to lawyers from Feb 1 this year as part of the standardisation exercise.
Thursday's decision to maintain the OPR at 2.
This is the second consecutive time the central bank maintained its benchmark interest rate after four straight hikes last year by a cumulative 100 basis points to tame inflation and respond to tightening fiscal policy by the US Federal Reserve.
Fitch Solutions said while core inflation remains on a firm uptrend, the headline inflation is expected to stay above the central bank’s target at least through the first half of the year, especially with negative real interest rates.
BNM said the country's growth in 2023 is expected to moderate amid a slower global economy, likewise the headline and core inflation figures — though the latter two will remain elevated amid lingering demand and cost pressures.
“Following a likely January hike, we expect a pause in March, before another 25bps hike in May, assuming the government announces some form of subsidy adjustments for the second half of 2023.