India, July 9 -- Malaysia's central bank lowered its key interest rate for the first time in five years on Wednesday to underpin economic growth amid the ongoing trade tariff uncertainty.
The Monetary Policy Committee of Bank Negara Malaysia decided to reduce the Overnight Policy Rate by 25 basis points to 2.75 percent. The ceiling and floor rates of the corridor of the OPR were correspondingly reduced to 3.0 percent and 2.5 percent, respectively.
This was the first reduction in the policy rate since July 2020.
"The balance of risks to the growth outlook remains tilted to the downside, stemming mainly from a slower global trade, weaker sentiment, as well as lower-than-expected commodity production," the bank said in a statement.
The MPC...