Malaysia reduces interest rate by 25 bps to 3.25%

By Richard Connell

New York, Nov. 24 - The Monetary Policy Committee of the Bank Negara Malaysia reduced its Overnight Policy Rate by 25 basis points to 3.25% at its meeting on Monday, according to a press release.

The committee focused on how the global economic slowdown and the fall in commodity prices had affected the domestic economy, particularly in terms of reduced exports and lower equity prices.

The committee of the Malaysian central bank also anticipated that inflation would moderate significantly through the second half of 2009, due to lower cost pressures and the slowdown in demand.

The rate was cut to 3.25% as a pre-emptive move in order to provide a "more accommodative monetary environment."

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.