Malaysia c.bank raises interest rate in surprise move

• May 11, 2022

KUALA LUMPUR: Malaysia’s central bank unexpectedly raised its benchmark interest rate from a historical low on Wednesday, as rising commodity prices, strained supply chains and strong demand conditions fanned inflationary pressures.

Bank Negara Malaysia (BNM) raised its overnight policy rate to 2% from the record low of 1.75%. A Reuters poll of 18 economists had expected rates to remain unchanged this week, with the central bank likely to start tightening next quarter to avert rising inflationary pressures.

Source: https://www.bangkokpost.com/world/2308298/malaysias-central-bank-raises-interest-rate-in-surprise-move