Economics
Malaysia Keeps Rates on Hold as Currency Tumbles
- Ringgit has dropped about 5% since Trump’s U.S. election win
- Government sees economic growth at a seven-year low in 2016
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Malaysia kept its benchmark interest rate unchanged in the face of a weakening currency, signaling policy makers are focused on protecting the ringgit rather than spurring economic growth.
Bank Negara Malaysia held the overnight policy rate at 3 percent, it said in a statement in Kuala Lumpur Wednesday, as predicted by all 19 economists in a Bloomberg survey.