Maybank IB maintains OPR forecast at 2pc in 2020 | Malay Mail

Yesterday, BNM announced a 50 basis points OPR cut, taking the total cut this year to 100bps, following the 25bps OPR cuts on January 22 and March 3. — Picture by Yusof Mat Isa

“This will effectively free up liquidity without the need to revise the SRR,” said Maybank IB in a note today. “This is in line with our economic team’s in-house expectations,” said Maybank IB, adding that the bank’s earnings forecasts impute three rate cuts of up to 75 bps this year. On aggregate, the investment bank expects net interest margins to compress by 7.0 bps in 2020 against 6.0 bps in 2019, for banking stocks in its coverage.

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