KUALA LUMPUR: Bank lending growth has slowed sharply in recent months to levels lower than during the global financial crisis which may make the central bank cut interest rates further in November, said HSBC Bank. Bank Negara Malaysia had already trimmed its Overnight Policy Rate for the first times since 2009 by 25 basis points to 3.00 per cent. Lim expects another 25 basis points cut during the last monetary policy committee meeting on November 23. "Unfortunately, there is limited scope for rate cuts beyond that. She said the fiscal budget to be tabled on Oct 21 will likelyto contain more or less the same limited measures for low- and middle-income earners as the 2016 budget.

Source: New Strait Times October 06, 2016 09:03 UTC