At the Monetary Policy Committee (MPC) meeting today, Bank Negara Malaysia decided to maintain the Overnight Policy Rate (OPR) at 3.00 percent. In the recent months, global economic and financial conditions have deteriorated following the escalation of the sovereign debt crisis in Europe, the ongoing fiscal consolidation and the significant policy uncertainties. Heightened market volatility, impaired financial intermediation and weak labour market conditions continue to weigh down on growth in the advanced economies. These conditions pose downside risks to global growth. In Asia, while growth continues to be supported by sustained domestic demand, the growth momentum has moderated amid the weaker external environment.