Bank Negara Malaysia (BNM) kept the Overnight Policy Rate (OPR) at 3.00%. The decision came widely expected. Itmarks the seventh meeting that OPR is kept on hold after 25bps cut in July last year. Final monetary policy meeting for theyear will be on 8-9 November.    Economy strengthens. BNM sounded upbeat as the global economy continues to improve. The domestic economy hasbeen lifted by private spending and exports. BNM said growth in 2017 will be stronger than earlier expected.    Demand-led inflation manageable. Headline inflation continues to moderate however core inflation has inched up amidrobust domestic demand. BNM underscored that underlying inflation pressures is expected to remain contained.    BNM signals a neutral policy stance. BNM maintains that at the current level of OPR, the stance of monetary policyremains accommodative, indicative of neutral stance. We keep our year-end OPR target at 3.00% but do not rule out thepossibility of a rate hike if: 1) strong GDP growth sustains, and 2) wage pressures filter into higher inflation pressures.    USD/MYR saw a rapid downshift to 4.21 amid dollar weakness following dovish signals from the Fed ahead of the nextFOMC meeting on 19-20 September. Based on current momentum, a move to 4.16 would not be surprising

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