Malaysian Central Bank Interest Rate Cut

May 5, 2020

Bangko Negara Malaysia cut its overnight policy rate by 50 basis points to 2.0%. Including 25-basis point reductions in January and March, that brings the total decline thus far in 2020 to a full percentage point. These cuts have been complemented by other monetary and financial measures according to a released statement. It notes that “widespread containment measures globally, international border closures and the consequent weak external demand environment will exert a larger drag on domestic economic activity,” and muted inflationary pressure is projected as well.

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