July 9, 2019 / 7:04 AM / 2 months ago

Malaysia c.bank holds key rate at 3.00%, as expected

KUALA LUMPUR, July 9 (Reuters) - Malaysia’s central bank kept its key interest rate at 3.00% on Tuesday, as expected, as it continues to assess growth prospects and potential risks from uncertainties linked to the U.S.-China trade war.

All 11 economists in a Reuters poll expected Bank Negara Malaysia (BNM) to keep its overnight policy rate (OPR) unchanged.

“At the current level of the OPR, the stance of monetary policy remains accommodative and supportive of economic activity,” the central bank said in a statement.

Most economists expect that Malaysia and other Asian central banks will hold off on loosening monetary policy until the U.S. Federal Reserve does.

On May 7, BNM cut its policy rate by 25 basis points - its first cut since 2016 and this year’s first by a Southeast Asian central bank - as Malaysia moved to bolster its slowing economy. (Reporting by Joseph Sipalan; Editing by Richard Borsuk)

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