Malaysia cuts key rate to historic low of 1.75%
published : 7 Jul 2020 at 14:12
KUALA LUMPUR: Malaysia's central bank on Tuesday cut its key interest rate for a fourth straight meeting to a historic low, as Southeast Asia's third-largest economy grapples with the coronavirus pandemic and faltering demand for its exports.
Bank Negara Malaysia (BNM) eased its overnight policy rate by 25 basis points to 1.75%. A slim majority of economists in a Reuters poll had expected a rate reduction of at least 25 bps.