ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Economy

Malaysia and Australia cut rates to counter coronavirus threat

Preventive measures spread among Asia-Pacific central banks

The coronavirus outbreak is fueling sales of masks in Malaysia but threatens to derail economies in the Asia-Pacific region.   © Reuters

KUALA LUMPUR -- Malaysia's central bank trimmed its key policy interest rate on Tuesday to 9-year low while Australia cut its to a record low, as the coronavirus outbreak begins to spook the two economies.

Bank Negara Malaysia cut the overnight policy rate 25 basis points to 2.5% -- the second cut since January -- which dropped the rate to its lowest since March 2011.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more