Bank Negara Malaysia surprises market with ‘pre-emptive’ rate cut
Malaysia’s central bank surprised markets today (January 22) when it cut interest rates, a move it described as a “pre-emptive measure”.
Bank Negara Malaysia’s monetary policy committee (MPC) lowered the overnight policy rate by 25 basis points to 2.75%. The ceiling and floor rates of the rate’s corridor were also reduced to accommodate the change.
“The adjustment to the OPR is a pre-emptive measure to secure the improving growth trajectory amid price stability,” the MPC said.
The cut brings
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