KUALA LUMPUR(Bernama) -- Malaysia's move to cut the overnight policy rate (OPR) today to a record low of 1.75% from 2% previously is driven by global economic conditions, which are still in the early stages of recovery from COVID-19.
Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz said based on forecasts by various agencies such as the World Bank and the International Monetary Fund, over 150 out of 195 countries globally were expected to record economic contraction in 2020.
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