Bank Negara may raise interest rates 6 times in 2023.
Six Monetary Policy Meetings (MPM) will be held in 2023, according to the official website of Bank Negara (Bank Negara), during which it will be decided whether to adjust the Overnight Policy Rate (OPR).
Bank Negara will be open on January 18th and 19th, March 8th and 9th, May 2nd and 3rd, July 5th and 6th, September 6th and 7th, and November 11th, 2023. Meetings on conference policy will be held on the first and second Tuesdays of each month.
Bank Negara is expected to raise interest rates by 0.25% in January and March 2023, while leaving the overnight policy rate unchanged at other meetings, according to financial experts.
This implies that the overnight policy rate will be 3.25% in March 2023.
If Bank Negara raises interest rates in January and March, as predicted by financial experts, bank loan interest rates will rise as well, forcing borrowers to pay more for their loans.
Dates for the 2023 monetary policy meeting
January 18-19, 2023
March 8-9, 2023
May 2 – 3, 2023
July 5 – 6, 2023
September 6-7, 2023
November 1 – 2, 2023
