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%

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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 yantoultra.ngui@wsj.com

(END) Dow Jones Newswires

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

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