Malaysia holds key interest rate steady despite COVID lockdown

Some economists expected a cut to ease economic pressure as infections surge

20210120 malaysia soldier

A soldier wearing a face mask enforces coronavirus restrictions in Kuala Lumpur on Jan. 13. © Reuters

P PREM KUMAR, Nikkei staff writer

KUALA LUMPUR -- Malaysia's central bank kept its key interest rate unchanged on Wednesday, defying the expectations of some economists who had predicted an effort to ease pressure from soaring COVID-19 infections and a renewed lockdown.

The central bank's monetary policy committee, in a statement, said it was holding the overnight policy rate at 1.75%. The bank had already cut the rate four times since January last year, when the coronavirus crisis emerged.

Sponsored Content

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