News about Bank Negara

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.

Since 2013, banks have somehow been “selling” and “billing” the security documents to lawyers for prices ranging between RM100 and RM600.

Bank Negara Malaysia wants banks to cease charging a fee relating to the provision of housing loan or home financing documentation for financial customers.

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.

Moody’s expects the local economy to slow in 2023 given external demand for its manufactured goods has weakened, mainly due to the slowing Chinese economy KUALA LUMPUR (Dec 30): Economists expect more overnight policy rate (OPR) hikes to combat inflationary pressures in 2023, with CGS-CIMB expecting two more 25-basis-point increases to 3.