Bank Negara seen cutting key rate again this year

(from Left) Group President & CEO Maybank, Datuk Abdul Farid Alias, Chairman of Maybank, Datuk Mohaiyani Shamsudin and Group Chief Financial Officer Maybank, Dato’ Amirul Feisal Wan Zahir at the Maybank Group First Half FY19 financial results announcement yesterday.

KUALA LUMPUR: Bank Negara is likely to cut its key interest rate again this year if the United States Federal Reserve (Fed) further eases its monetary policy amid uncertain global economic growth, according to Malayan Banking Bhd (Maybank).

Group president and CEO, Datuk Abdul Farid Alias, said the central bank is likely to cut another 25 basis points off its overnight policy rate (OPR) this year to 2.75% that would help to boost private consumption.