KUALA LUMPUR - Malaysia's central bank on Tuesday slashed interest rates to their lowest level since the 2009 global financial crisis as the coronavirus pandemic batters the economy.
KUALA LUMPUR - Malaysia's central bank on Tuesday slashed interest rates to their lowest level since the 2009 global financial crisis as the coronavirus pandemic batters the economy.
Bank Negara Malaysia slashed the rate by 50 basis points to 2.00 percent, as expected by economists, in its third cut this year.Malaysia's outbreak has been small -- it has recorded about 6,000 cases and 100 deaths -- but the prime minister has said the curbs have so far cost the economy 63 billion ringgit ."Widespread containment measures globally, international border closures and the consequent weak external demand environment" will hit Malaysia's economy, it added.
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