FMM in The News: THE STAR, SUNGAI BULOH, March 11, 2024 - Bank Negara Malaysia’s decision to leave the overnight policy rate (OPR) unchanged benefits the manufacturing sector and other industries as it helps to contain costs, said the Federation of Malaysian Manufacturers (FMM) president Tan Sri Soh Thian Lai.

"If the OPR increases, the industry’s (manufacturing sector) financial burden will increase.

"This move made a huge impact on the industry and individuals,” he told the media at the unveiling of the FMM Business Conditions Survey results.

On March 7, Bank Negara Malaysia’s (BNM) Monetary Policy Committee (MPC) decided to maintain the OPR at 3.00 per cent and said that the monetary policy stance remains supportive of the economy.

"The MPC will ensure that the monetary policy stance remains conducive to sustainable economic growth amid price stability,” it said. - Bernama