Malaysia keeps rates steady, cuts reserve requirement ratio as growth outlook dims

Quick Summary:

KUALA LUMPUR : Malaysia's central bank kept its benchmark interest rate steady on Thursday but warned of weaker economic growth due to trade tensions, which analysts say will lead to rate cuts later in the year.

BNM said the escalation in trade tensions and heightened global policy uncertainties will weigh on the external sector, but demand for electrical and electronic goods and higher tourist spending will provide some cushion to Malaysia's exports.

FILE PHOTO: A security officer walks past a logo of the Central Bank of Malaysia (Bank Negara Malaysia) at Kuala Lumpur, Malaysia May 12, 2023.

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Category: EconomyBusiness

Markets: SingaporeIndonesiaMalaysiaThailand

Topics: Outlook Growth Trade Bank Policy Malaysia Central Rate Cent Inflation Year

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-05-08 @ 16:51:40 (14 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 721 words

Reading Time: 5 minutes read

Sentences: 24 lines

Sentence Length: 31 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 28490182

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