Malaysia Lifts Rate in ‘Vote of Confidence’ on Growth

Malaysia’s central bank raised interest rates for the third time this year, judging the economy is strong enough to withstand higher borrowing costs even as threats to the global rebound grow.

Bank Negara Malaysia increased its overnight policy rate to 2.75 percent from 2.5 percent yesterday, calling the new level “appropriate.” The monetary stance remains “supportive” of the economy, the bank said.