Bank Negara Malaysia (BNM) has increased the overnight policy rate (OPR) by 25 basis points to 2.00 percent in its third Monetary Policy Committee meeting this year.

The ceiling and floor rates of the corridor of the OPR are correspondingly increased to 2.25 percent and 1.75 percent, respectively, BNM said in its monetary policy statement today.

The central bank said the sustained reopening of the global economy and the improvement in labour market conditions has continued to support the recovery of economic activity.

“These have partly cushioned the impact...