July 7, 2020 / 7:06 AM / a month ago

Malaysia's c.bank cuts key rate to historic low of 1.75%

KUALA LUMPUR, July 7 (Reuters) - Malaysia’s central bank on Tuesday cut its key interest rate for a fourth straight meeting to a historic low, as Southeast Asia’s third-largest economy grapples with the coronavirus pandemic and faltering demand for its exports.

Bank Negara Malaysia (BNM) eased its overnight policy rate by 25 basis points to 1.75%. A slim majority of economists in a Reuters poll had expected a rate reduction of at least 25 bps. (Reporting by Joseph Sipalan; Ana Nicolaci da Costa)

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