In a statement, Bank Negara Malaysia said the ceiling and floor rates of the corridor for the OPR are correspondingly reduced to 3.25 per cent and 2.75 per cent respectively. — Picture by Yusof Mat Isa

KUALA LUMPUR, May 7 ― Bank Negara Malaysia (BNM) has cut the Overnight Policy Rate (OPR) by 25 basis points to 3.00 per cent as while domestic monetary and financial conditions remain supportive of economic growth, there are some signs of tightening of financial conditions.

In a statement, the central bank said the ceiling and floor rates of the corridor for the OPR are correspondingly reduced to 3.25 per cent and 2.75 per cent respectively.

“The adjustment to the OPR is therefore intended to preserve the degree of monetary accommodativeness.

“This is consistent with the monetary policy stance of supporting a steady growth path amid price stability. The Monetary Policy Committee (MPC) will continue to monitor and assess the balance of risks surrounding the outlook for domestic growth and inflation,” it said. ― Bernama