Bank Negara Malaysia (BNM) will announce its next monetary policy decision on 7 May. It is expected to keep the overnight policy rate (OPR) unchanged at 3.25%. The rate was last raised in July 2014. The central bank removed the word “appropriate” from its monetary policy statement released on 15 March, replacing it with “supportive” to describe its monetary policy stance. It also appeared to be comfortable with its current growth and inflation outlook at the annual briefing on 11 March. Analysts believe it has taken a wait-and-see approach, but that it is more focused on growth. Inflation is expected to have picked up in April on GST implementation, but to take a backseat to the growth outlook.
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