Malaysia ends November with a policy stance that looks calm on the surface but much firmer underneath. Bank Negara Malaysia (BNM) held the line on rates again. Growth surprised to the upside. Inflation remains soft. The Ringgit is stable. Yet behind all that, the regulatory screws continue to tighten. Digital rules, data rules, cyber rules and capital rules are all moving at once. This is not an easing cycle. It is fortification. Quiet. Steady. Deliberate. Monetary Policy BNM kept the OPR at 2.75% on 6th November, reinforcing the message we flagged in October - sit tight, assess the July pivot, avoid any false moves. The corridor remains 2.50 to 3.00 and BNM is sticking to it. Q3’s surprise 5.2% GDP print gives the bank breathing room. Inflation is still muted, hovering around 1.3%. In other words, policy space exists but urgency does not. One small but important move slipped out of the meeting. The MPC confirmed its six meeting schedule for 2026. Technical? Yes. But it signals predict...
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