Bank Negara Malaysia will decide today on whether to maintain or cut its benchmark interest rate.
Bank Negara Malaysia will maintain its overnight policy interest rate at a record low of 1.75% at its meeting today, according to 12 of 21 economists surveyed by Bloomberg. The other nine expect a 25 basis-point cut. Signs of economic recovery have emerged since Malaysia began lifting movement restrictions to contain the virus in May. GDP data showed a “sharp increase” in activity, from a 28.6% contraction in April to just -3.2% in June, according to Finance Minister Tengku Zafrul Aziz. That indicates better growth in coming months, he said.BNM projected in August the economy would contract 3.5% to 5.5% this year, with the worst blow in the first half.
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