Tuesday, 11 December 2025
The latest FOMC decision points to a cautious shift toward monetary easing, with the Federal Reserve delivering a third 25bps rate cut amid a notably divided vote. While inflation remains sticky and labour-market conditions are showing early signs of softening, policymakers continue to signal a broadly hawkish stance, prioritising inflation-control credibility over aggressive easing. Against this backdrop, we expect Bank Negara Malaysia to maintain the OPR at 2.75%, supporting policy stability, orderly credit conditions, and continued macro-financial resilience despite elevated global volatility.