Bank Negara Malaysia lowered its Overnight Policy Rate by 25 bps to 1.75 percent during its July meeting, bringing borrowing costs to record lows, aiming to provide additional policy stimulus to accelerate the pace of economic recovery from the coronavirus-induced crisis. Policymakers said that the fiscal stimulus packages, alongside monetary and financial measures, will continue to underpin the improving economic outlook, but the pace and strength of the recovery remain subject to downside risks emanating from both domestic and external factors. At the same time, inflationary pressures are expected to be muted in 2020, with inflation likely to be negative this year, due to global oil and commodity prices.

Interest Rate in Malaysia averaged 2.98 percent from 2004 until 2020, reaching an all time high of 3.50 percent in April of 2006 and a record low of 1.75 percent in July of 2020. This page provides - Malaysia Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Malaysia Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on August of 2020. source: Central Bank of Malaysia

Interest Rate in Malaysia is expected to be 1.75 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Malaysia to stand at 1.75 in 12 months time. In the long-term, the Malaysia Interest Rate is projected to trend around 2.25 percent in 2021 and 2.75 percent in 2022, according to our econometric models.

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Malaysia Interest Rate

Actual Previous Highest Lowest Dates Unit Frequency
1.75 2.00 3.50 1.75 2004 - 2020 percent Daily


Calendar GMT Actual Previous Consensus TEForecast
2020-01-22 07:00 AM 2.75% 3% 3% 3%
2020-03-03 07:00 AM 2.50% 2.75% 2.50% 2.50%
2020-05-05 07:00 AM 2.0% 2.50% 2.0% 2.0%
2020-07-07 07:00 AM 1.75% 2.0% 1.75% 1.75%
2020-09-10 07:00 AM 1.75% 1.75%
2020-11-03 07:00 AM 1.75%


News Stream
Bank Negara Malaysia Cuts Rates to Record Lows
Bank Negara Malaysia lowered its Overnight Policy Rate by 25 bps to 1.75 percent during its July meeting, bringing borrowing costs to record lows, aiming to provide additional policy stimulus to accelerate the pace of economic recovery from the coronavirus-induced crisis. Policymakers said that the fiscal stimulus packages, alongside monetary and financial measures, will continue to underpin the improving economic outlook, but the pace and strength of the recovery remain subject to downside risks emanating from both domestic and external factors. At the same time, inflationary pressures are expected to be muted in 2020, with inflation likely to be negative this year, due to global oil and commodity prices.
2020-07-07
Malaysia Cuts Key Interest Rate to 2%
Bank Negara Malaysia lowered its overnight policy rate by 50bps to 2.0 percent during its May meeting, bringing borrowing costs to the lowest since March 2010. Policymakers said economic conditions would be particularly challenging in the first half of the year due to the negative effects from the coronavirus pandemic as the recent restriction measures have constrained production capacity and spending. Inflationary pressures are expected to be muted in 2020, with average headline inflation likely to be negative this year, due mainly to projections for substantially lower global oil prices. The central bank also pledged to take further action if needed to support the economy.
2020-05-05
Malaysia Cuts Key Interest Rate to 2.5%
Bank Negara Malaysia lowered its overnight policy rate by 25 bps to 2.50 percent during its March meeting, bringing borrowing costs to the lowest since July 2010, in an attempt to boost economic growth amid spreading COVID-19 outbreak, as widely expected. It was the second straight cut in two months, amid price stability. The economic growth, particulary in the first quarter, will be effected by coronavirus outbreak primarily in the tourism and manufacturing sectors. For 2020, the growth mainly was supported by in both private and public activities, while private investment is expected to remain modest. Also, economic stimulus package will provide some support to economic activity. Household spending is projected to grow at a slower rate amid moderate employment and income growth. Meantime, inflation is expected to average higher but remain modest. The ceiling and floor rates of the corridor of the overnight policy rate also trimmed to 2.75 percent and 2.25 percent, respectively.
2020-03-03
Malaysia Cuts Key Rate to 2.75% Unexpectedly
Bank Negara Malaysia unexpectedly lowered its overnight policy rate by 25 bps to 2.75 percent during its January meeting, bringing borrowing costs to the lowest since May 2011, in an attempt to boost economic growth amid price stability. For 2020, growth is expected to gradually improve supported by resilient private spending and better export performance, while private investment is projected to remain modest. Meantime, inflation is expected to average higher but remain modest. The ceiling and floor rates of the corridor of the overnight policy rate trimmed to 3 percent and 2.50 percent, respectively.
2020-01-22

Malaysia Interest Rate
In Malaysia, the interest rate decisions are taken by The Central Bank of Malaysia (Bank Negara Malaysia). The official interest rate is the Overnight Policy Rate.