Wednesday, July 13, 2016
BNM Reduced OPR to 3%
Bank Negara Malaysia has just reduced the Overnight Policy Rate (OPR) to 3% at its Monetary Policy Committee (MPC) meeting (here). The Property stocks are up as shown by the jump in the Properties Index below.
Chart: Properties Index's 30-min chart as at July 13, 2016_3.40pm (Source: Shareinvestor.com)
The broad market should respond according to this positive monetary move.