Bank of Malaysia raises interest rates by 0.25

The Malaysian central bank raised its key interest rate by 0.25% to 2.50% at its meeting today (Sept. 8), as expected. It has raised rates in three consecutive meetings to curb rising inflation in a fast-growing Malaysian economy.

The Malaysian central bank said the Malaysian economy is much stronger and does not need the massive support it required during the COVID-19 pandemic.

In addition, various indices indicated that the Malaysian economy will continue to grow, driven by private spending.

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