The Bank Negara Malaysia (BNM) has recently slashed the overnight policy rate (OPR) by 50 basis points to 2%, where it is found to be at its lowest level since 2010.
A few points to take note whereby:-
- The ceiling and floor rates of the OPR corridor have been reduced to 2.25% and 1.75% respectively
- The said reduction is to offer some support to the economy due to COVID-19 Pandemic where the economy is badly damaged.
- The OPR has been reduced by a total of 100 basis points.
This would encourage people to buy or invest in properties or vehicle in order to recover the economy slowly.
