Bank Negara Malaysia cuts rate as global outlook darkens
Fresh easing measures come as central bank foresees “particularly challenging” first half of year
Bank Negara Malaysia has launched a fresh round of monetary easing, as policy-makers expect the weaker external environment to impact the Malaysian economy.
The monetary policy committee chose to lower the policy rate 50 basis points to 2%, a level last seen in 2010. In early March, the MPC cut the rate 25 basis points, as the Covid-19 pandemic worsened and the economic impact spread globally.
In a statement today (May 5), the MPC noted that global conditions had “weakened significantly” and
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