Malaysia raises key rate for second time this year
Friday, 14 May 2010
KUALA LUMPUR, May 13 (AFP): Malaysia's central bank raised its key interest rate today for the second time this year after the economy recorded 10.1 per cent year-on-year growth in the first quarter.
Bank Negara raised the overnight policy rate (OPR) by 25 basis points to 2.50 per cent. The quarterly growth rate was the fastest pace in a decade.
"The monetary policy will remain accommodative," Bank Negara Malaysia said.
It also said the stronger-than-expected economic growth in
the first quarter was due to broad-based improvement, supported
by strong domestic demand.
The OPR is the main interest rate that banks use to benchmark their own lending rate.
Bank Negara raised the overnight policy rate (OPR) by 25 basis points to 2.50 per cent. The quarterly growth rate was the fastest pace in a decade.
"The monetary policy will remain accommodative," Bank Negara Malaysia said.
It also said the stronger-than-expected economic growth in
the first quarter was due to broad-based improvement, supported
by strong domestic demand.
The OPR is the main interest rate that banks use to benchmark their own lending rate.