PETALING JAYA: Bank Negara has in a surprise move hiked the key benchmark interest rate, the overnight policy rate (OPR), by 25 basis points (bps) to 2% against most economists’ expectations of it being kept at 1.75%.
Economists told StarBiz they were startled by the central bank’s decision to raise the OPR so soon, but agreed the move could be to contain capital outflows and support the ringgit.
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