Octa forecast: OPR hike will likely be on hold due to falling inflation
- Written by Reporters
KUALA LUMPUR, MALAYSIA - Media OutReach - 31 October 2023 - Octa analyses the likelihood of the BNM keeping the Overnight Policy Rate (OPR) unchanged at 3% at the upcoming Monetary Policy Committee (MPC) meeting on 1 – 2 November. Learn about the potential impact on the Malaysian ringgit. Key Takeaways
- Headline inflation in Malaysia declined to 1.9% in September.
- The Overnight Policy Rate (OPR) is unlikely to be raised at the next meeting, given the recent decline in headline inflation to below 2%.
- The pause in the OPR change will continue to hurt the ringgit, and the probability of USDMYR rising above 5.0000 remains high.
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About Octa
Octa is an international broker that has been providing online trading services worldwide since 2011. It offers commission-free access to financial markets and various services already utilised by clients from 180 countries with more than 42 million trading accounts. Free educational webinars, articles, and analytical tools they provide help clients reach their investment goals. The company is involved in a comprehensive network of charitable and humanitarian initiatives, including the improvement of educational infrastructure and short-notice relief projects supporting local communities.
Source https://www.media-outreach.com/news/malaysia/2023/10/31/257126/