KUALA LUMPUR: Bank Negara Malaysia says there is “ample room” for interest rate adjustment after Malaysia posts its slowest economic growth in a decade. Analysts expect another rate cut as Bank Negara steps in further to help boost the economy. OCBC Bank economist Wellian Wiranto said having surprised the market with its “pre-emptive” cut last month, there was a distinct possibility for Bank Negara to cut rate again, and soon. He also said that while Bank Negara may review its 2020 GDP forecast, the central bank would not revise upward its current 4.3-4.8 per cent forecast. Meanwhile, banking stocks took a hit after Bank Negara hinted at a further rate cut.

Source: New Strait Times February 13, 2020 02:26 UTC