RTTNews - As expected, Malaysia's central bank left its overnight policy rate unchanged at 2% on Tuesday. The central bank retained the rate for the second straight meeting, while the decision was in line with economists' expectations. The last change in the interest rate was in February, when the central bank cut the rate by 50 basis points to 2%.
A more modest pace of decline in the latest indicators of global economic activity suggests the potential for a gradual improvement in the second half of the year, the central bank said in a statement.
The bank said its current assessment is that the accumulated monetary policy initiatives and measures to enhance access to financing are sufficient to provide support to domestic demand.
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