Published: 2009/05/26
MALAYSIA'S central bank kept its key rate unchanged at 2 per cent today in line with expectations, saying that earlier rate cuts and credit measures were sufficient to support domestic demand. “The current assessment is that the accumulated monetary policy initiatives and measures to enhance access to financing are sufficient to provide support to domestic demand,” Bank Negara Malaysia said in a statement.
Analysts expected the central bank to maintain the overnight policy rate according to a Reuters poll taken last week. The bank kept interest rates on hold at the last meeting in April but it had previously slashed rates by a total of 150 basis points over the course of three meetings to bolster the economy as exports slumped. - Reuters