Malaysia keeps rates steady, cuts reserve requirement ratio as growth outlook dims
Coronavirus
KUALA LUMPUR : Malaysia's central bank kept its benchmark interest rate steady on Thursday but warned of weaker economic growth due to trade tensions, which analysts say will lead to rate cuts later in the year. The dovish policy outlook was reinforced when the central bank said it will lower banks' statutory reserve requirement (SRR) ratio by 100 basis points to 1.00 per cent, effective May 16 - the first SRR reduction since March 2020 at the start of the COVID-19 pandemic. Earlier in the day,
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