Bank Negara Malaysia announced that it will raise the overnight policy rate by 25 basis points to 2.25%

    Bank Negara Malaysia (the central bank) announced on July 6 that it would raise the overnight policy rate by 25 basis points to 2.25%. Some insiders said that this was the first consecutive rate hike in the country over the past 10 years.

    Bank Negara Malaysia announced that the National Monetary Policy Committee of Malaysia recently decided to raise interest rates because Malaysia's domestic economy has shown growth prospects, and the loose monetary policy is conducive to supporting economic development.