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Economy

Bank Negara Malaysia holds interest rate at 3% as expected

Economists expect BNM to stand pat amid modest inflation, steady growth

KUALA LUMPUR (Nikkei Markets) - Malaysia's central bank Thursday kept the benchmark policy interest rate unchanged in an expected move as inflation is projected to moderate in an expanding economy.

Bank Negara Malaysia's monetary policy committee held the Overnight Policy Rate at 3.00% at its fifth of the six scheduled meetings this year, the central bank said in a statement. BNM has kept interest rate unchanged since July 2016 when it had unexpectedly cut it by 25 basis points.

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