Bank Negara Malaysia left its Overnight Policy Rate (OPR) unchanged at 2.75% at its November 2026 meeting, marking the eighth consecutive hold and aligning with market expectations. The Monetary Policy Committee (MPC) stated that the current policy stance remains conducive to maintaining price stability while supporting sustainable economic growth.
From January to October 2026, headline inflation averaged 1.8%, while core inflation stood at 1.9%. Looking ahead to 2027, the MPC noted that geopolitical tensions, persistently high global commodity prices and adverse weather conditions are likely to generate upward pressure on inflation.
On the growth front, recent data signal continued economic strength in the third quarter of 2026, driven by robust export performance and resilient domestic demand. This solid momentum is expected to push full-year growth to above 5%.
The MPC reiterated that it will remain vigilant to evolving economic and financial developments and will assess their implications for the balance of risks surrounding the domestic inflation and growth outlook.
