PETALING JAYA: Standard Chartered Bank has lowered its forecast on Malaysia’s 2020 gross domestic product (GDP) growth to 2.5% from 4.2% previously, following a worse-than-expected demand outlook due to a more protracted Covid-19 outbreak.
The bank also expects Bank Negara to cut the overnight policy rate (OPR) by 25 basis points (bps) each in May and July 2020, bringing it down to 2.0% from the current 2.5%, in light of the global financial crisis period.
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