Business

Malaysia cuts key interest rate to record low of 1.75%

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 baRead More – Source