Moving forward, it said growth outlook was expected to remain modest, supported by moderate growth in domestic demand and a still soft external environment.
Group managing director, Domenic Fuda said that in line with the central bank's pre-emptive move to cut the OPR, this opportunity allowed it to lower its rates to assist potential and existing customers with their borrowing costs, which in turn will further support the government’s efforts to ensure domestic economic growth continues on a steady path amidst international uncertainties.
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