Malaysia raises key interest rate for 1st time in over 4 years

Economy

Malaysia's central bank unexpectedly raised its key interest rate Wednesday for the first time in more than four years in an attempt to tame inflation. The overnight policy rate was raised by 0.25 percentage point to 2 percent from a historic low of 1.75 percent that had been maintained since July 2020. The decision came amid signs of an economic recovery from the coronavirus pandemic, as well as growing inflationary pressure driven by higher commodity prices and disruptions of supply chains resulting from the war in Ukraine. "The sustained reopening of the global economy and the improvement i...

Kyodo News

Kyodo News