Bank Negara seen cutting key rate again as pandemic persists

Bank Negara Malaysia (BNM) will cut its overnight policy rate (OPR) by at least 25 basis points (bps) to 1.75%, according to seven out of the 12 economists polled, with two of them betting on a bigger 50 bps rate reduction.

KUALA LUMPUR: Malaysia's central bank is expected to cut interest rates to a historic low next week, according to a slim majority in a Reuters poll, as it seeks to protect Southeast Asia's third largest economy from the fallout of the coronavirus pandemic.

Bank Negara Malaysia (BNM) will cut its overnight policy rate (OPR) by at least 25 basis points (bps) to 1.75%, according to seven out of the 12 economists polled, with two of them betting on a bigger 50 bps rate reduction.