Malaysia raises key policy interest rate

Kuala Lumpur, Malaysia (BBN)- Malaysia’s central bank has raised interest rates for the second time this year, judging that risks stemming from low borrowing costs are greater than any possible impact from Europe’s debt crisis.

Bank Negara Malaysia, the country’s central bank, increased its benchmark overnight policy rate to 2.5 percent from 2.25 percent.

The central bank said that the rate increase is a move towards further normalization of monetary conditions and the stance of monetary policy continues to remain accommodative and supportive of economic growth.

BBN/SS/SSR/AD-15May10-9:30 pm (BST)

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