APEX Securities Sees No Urgency To Ease OPR Amid Stable Growth, Inflation

KUALA LUMPUR, March 6 (Bernama) -- Apex Securities Bhd sees no immediate need for Bank Negara Malaysia (BNM) to ease the overnight policy rate (OPR) as Malaysia’s growth and inflation outlook remain stable.

In a statement today, the brokerage said the current policy stance poses no immediate threat to the country’s growth, barring an unexpected decline below BNM’s forecast of 4.0 - 4.5 per cent for 2026.

Yesterday, the central bank kept the OPR at 2.75 per cent, where it has stood since July 2025, saying the existing monetary policy is appropriate and supportive of the economy while ensuring price stability.

On the impact of the Middle East conflict and United States tariff policies, Apex Securities said the outlook for sustained growth momentum into 2026 remains intact.

“We therefore maintain our 2026 gross domestic product forecast at 4.7 per cent, versus 5.2 per cent in 2025, with inflation expected to remain modest at 1.8 per cent, compared with 1.4 per cent last year,” it said.

Given the steady growth and benign inflation, the brokerage expects BNM to maintain the OPR at 2.75 per cent throughout 2026.

--BERNAMA