Source : Bernama
KUALA LUMPUR, November 6, 2026 – Analysts expect Bank Negara Malaysia (BNM) to raise the Overnight Policy Rate (OPR) by 25 basis points to 3.0 per cent in early 2027, after the Monetary Policy Committee kept the rate at 2.75 per cent at its final meeting of 2026, Bernama Business reported.
In a post shared on X on Friday, Bernama Business flagged the story “BNM Dijangka Naikkan OPR Sebanyak 25 Mata Asas Pada 2027 – Penganalisis”, linking to its Bahasa Malaysia report by Siti Radziah Hamzah.
Kenanga sees a first-quarter 2027 hike
Kenanga Investment Bank Bhd expects a single 25-basis-point increase to 3.0 per cent in the first quarter of 2027, then a pause, the report said. Kenanga argued that leaving the OPR unchanged while major central banks tighten risks widening interest-rate differentials and pressuring the ringgit, while a moderate rise in inflation in 2027 would reduce the real OPR.
Inflation was 1.8 per cent in September, but ongoing geopolitical tension still calls for a gradual shift toward a more neutral monetary stance, Kenanga said, adding that BNM is expected to stay data-dependent and assess inflation pressures before any policy change.
Kenanga kept its 2026 gross domestic product (GDP) growth forecast at 5.3 per cent, up from 5.2 per cent in 2025, citing resilient domestic demand, services and continued investment in artificial intelligence and digital infrastructure. It maintained a 5.0 per cent GDP forecast for 2027.
Apex leans toward January 2027
Apex Securities Bhd expects a 25-basis-point rise to 3.0 per cent in January 2027 — earlier than its previous second-quarter 2027 call — arguing that the main obstacles to a hike have eased. It pointed to stronger-than-expected third-quarter 2026 growth of 5.3 per cent and year-to-date growth that could reach about 5.5 per cent.
On Thursday, BNM’s Monetary Policy Committee held the OPR at 2.75 per cent at its sixth and final meeting of the year. The Bernama Business article reports private-sector forecasts, not a BNM decision. Any 2027 move would still depend on the committee’s reading of growth, inflation and external conditions at the time.
Source: Bernama Business on X and Bernama Business report, November 6, 2026, citing Kenanga Investment Bank and Apex Securities research notes.
Source : Bernama
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