ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

Malaysia central bank cuts rate to record low to offset COVID pain

Policy board takes action at fourth straight meeting, dropping rate to 1.75%

Malaysia's central bank has been cutting rates to support the ailing economy.   © Reuters

KUALA LUMPUR -- Malaysia's central bank on Tuesday slashed its key interest rate to a record low, attempting to cushion the negative impact of the coronavirus pandemic.

Bank Negara Malaysia's policy committee, in a statement, said it decided to cut the overnight policy rate by 25 basis points to 1.75%. This marks the bank's fourth consecutive rate cut since Jan. 22.

Sponsored Content

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

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