Bank Negara Malaysia (BNM) decided to cut Overnight Policy Rate (OPR) to 3 percent after the meeting today. This is the first time interest rate cut after 7 years from Global Financial Crisis. Is Malaysia moving into a low or zero interest rate trend soon? Perhaps it is time to hunt for affordable properties or quality stocks in Malaysia market!
When the news was released, July KLCI futures was trading at 1660.0 (+2.0); range of the day was traded between 1654.0-1662.5 (8.5) while cash market was at 1658.31 (+4.34). As for Ringgit, 1USD is equivalent to RM3.98.
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