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