Malaysia Cuts Rate for First Time Since 2020 After Tariff Threat

Malaysia lowered its benchmark interest rate for the first time in five years, acting after US President Donald Trump increased a threatened tariff on the Southeast Asian country to 25%.

Bank Negara Malaysia cut the overnight policy rate by 25 basis points to 2.75% on Wednesday, the first easing since July 2020. Some 13 of 23 economists surveyed by Bloomberg News expected a cut, a slight increase from Monday, with the rest predicting no change.