Malaysia central bank says no plans to change interest rates over next few meetings

[KUALA LUMPUR] Malaysia's central bank will not change its key interest rate over the next few meetings, following its first cut in seven years earlier this week, state media Bernama reported on Thursday, citing the central bank Governor Muhammad Ibrahim.

Bank Negara Malaysia on Wednesday surprised markets by cutting its overnight interest rate by 25 basis points to 3.00 per cent, in a bid to keep the country on a "steady growth path"as it sees more clouds over the global economy after Britain's Brexit vote.

Lower-than-expected inflation gave room for the central bank to cut the overnight policy rate, Bernama reported, quoting Ibrahim. The central bank governor also reiterated Malaysia's 2016 growth forecast at 4-4.5 per cent.

REUTERS