Report: Malaysia to cut interest rate in Dec

Bank Negara is expected to lower interest rates by 25 basis points (bp) in December, with a further 25 basis points cut in the first quarter of 2020. “This is provided that the government will continue to focus on fiscal consolidation in the upcoming budget announcement on Oct 11, ” said a report by the Institute of Chartered Accountants in England and Wales’ (ICAEW) latest Economic Update: South-East Asia.

KUALA LUMPUR: Malaysia’s export momentum has outperformed in South-East Asia, according to the Institute of Chartered Accountants in England and Wales’ (ICAEW) latest Economic Update: South-East Asia report.

The momentum it said, reflected a more modest deceleration in export growth and resilient domestic demand, comparing the growth of trade-dependent economies such as Singapore, Thailand and the Philippines which have seen slower momentum in the second quarter of 2019.