Malaysia's central bank raised its key interest rate for the first time since 2018 citing rising inflationary pressures amid the war in Ukraine and strained supply chains.
The Monetary Policy Committee of Bank Negara Malaysia decided to increase the benchmark Overnight Policy Rate by 25 basis points to 2.00 percent from a record low.
The ceiling and floor rates of the corridor of the OPR are correspondingly increased to 2.25 percent and 1.75 percent, respectively.
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by Renju Jaya
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