Malaysia Raises Interest Rates for First Time in 3 1/2 Years

By FeaturesDow Jones Newswires

KUALA LUMPUR, Malaysia--Malaysia's central bank raised interest rates for the first time in 3 1/2 years Thursday, easing its support for the strengthening economy and joining a global trend toward tighter monetary policy.

The bank raised its overnight policy rate by a quarter of a percentage point to 3.25%

Continue Reading Below

The move was largely expected, following guidance by Bank Negara Malaysia at its previous meeting that improving economic conditions warranted a review of its policy.

Nine of 13 economists surveyed by The Wall Street Journal had expected that quarter-point increase from Bank Negara. The bank had left the rate unchanged since its rate cut in July 2016.

Write to Yantoultra Ngui at

(END) Dow Jones Newswires

January 25, 2018 02:18 ET (07:18 GMT)

Continue Reading Below