# Malaysia Central Bank Cuts Key Rate Amid Coronavirus Outbreak and Political Turbulence – The Diplomat

> Bank Negara Malaysia cut its overnight policy rate by 0.25 percentage points to 2.5% on March 3, citing worsening economic conditions from the coronavirus outbreak. The central bank expects weaker growth in the current quarter as tourism and consumer spending fall.

- Date: 2020-03-03 · published 2020-03-03T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/54384-malaysia-central-bank-cuts-key-rate-amid-coronavirus-outbreak-and-political
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

Lower Malaysian interest rates tend to weaken the ringgit, which raises the local cost of dollar-priced feed imports, while slower domestic demand may reduce livestock feed needs.

## Read by commodity

- USDMYR: bullish ▲

## Sources

- thediplomat.com: https://thediplomat.com/2020/03/malaysia-central-bank-cuts-key-rate-amid-coronavirus-outbreak-and-political-turbulence/

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.