The central bank of Malaysia raised its key overnight policy rate by 25 basis points to 2.25% in its July 2022 meeting, the second consecutive rate hike and in line with market expectations. Policymakers noted that economic activity in Malaysia continued to strengthen in recent months and domestic demand is expected to support growth. At the same time, upward pressures on inflation will remain partly contained by existing price controls, fuel subsidies and the continued spare capacity in the economy. Borrowing costs are now at their highest level since April 2020 and any further hikes going forward would be done in a measured and gradual manner. source: Central Bank of Malaysia

Interest Rate in Malaysia averaged 2.86 percent from 2004 until 2022, reaching an all time high of 3.50 percent in April of 2006 and a record low of 1.75 percent in July of 2020. This page provides - Malaysia Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Malaysia Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on August of 2022.

Interest Rate in Malaysia is expected to be 2.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Malaysia Interest Rate is projected to trend around 2.75 percent in 2023, according to our econometric models.

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Malaysia Interest Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-03-03 07:00 AM 1.75% 1.75% 1.75% 1.75%
2022-05-11 07:00 AM 2% 1.75% 1.75% 1.75%
2022-07-06 07:00 AM 2.25% 2% 2.25% 2.25%
2022-09-08 07:00 AM 2.25% 2.5%
2022-11-03 07:00 AM


Related Last Previous Unit Reference
Interest Rate 2.25 2.00 percent Jul 2022
Money Supply M1 606889.13 603888.13 MYR Million Jun 2022
Money Supply M0 146192.28 146992.07 MYR Million Jun 2022
Money Supply M2 2217856.65 2218313.90 MYR Million Jun 2022
Money Supply M3 2225258.61 2226588.36 MYR Million Jun 2022
Foreign Exchange Reserves 109031.05 112821.59 USD Million Jun 2022
Banks Balance Sheet 3162828.04 3131401.85 MYR Million Feb 2022
Loans to Private Sector 2169311.80 2157416.51 MYR Million Jun 2022
Central Bank Balance Sheet 545252.11 534801.26 MYR Million Jun 2022
Cash Reserve Ratio 2.00 2.00 percent Mar 2022

Malaysia Interest Rate
In Malaysia, the interest rate decisions are taken by The Central Bank of Malaysia (Bank Negara Malaysia). The official interest rate is the Overnight Policy Rate.
Actual Previous Highest Lowest Dates Unit Frequency
2.25 2.00 3.50 1.75 2004 - 2022 percent Daily

News Stream
Malaysia Raises Key Rate to 2.25%
The central bank of Malaysia raised its key overnight policy rate by 25 basis points to 2.25% in its July 2022 meeting, the second consecutive rate hike and in line with market expectations. Policymakers noted that economic activity in Malaysia continued to strengthen in recent months and domestic demand is expected to support growth. At the same time, upward pressures on inflation will remain partly contained by existing price controls, fuel subsidies and the continued spare capacity in the economy. Borrowing costs are now at their highest level since April 2020 and any further hikes going forward would be done in a measured and gradual manner.
2022-07-06
Malaysia Unexpectedly Hikes Key Rate
Bank Negara Malaysia unexpectedly raised its key overnight policy rate by 25 basis points to 2.00% on May 11th, after holding it at a record low of 1.75% since July of 2020, arguing that the pandemic impact on the economy had disappeared and that economic growth had reached a firmer level. The central bank said the Malaysian economy was being supported by stronger domestic demand and sustained export growth, and added that the labor market had become tighter, raising income prospects, but downside risks related to the pandemic, the war in Ukraine, and deteriorating supply chain issues lingered. On the price front, policymakers see headline inflation averaging between 2.2 and 3.2% this year but upward pressures would be limited by existing price controls and spare capacity in the economy. In its forward guidance, the central bank said further rate hikes would be done in a measured and gradual way.
2022-05-11
Malaysia Keeps Key Rate Steady as Expected
Bank Negara Malaysia left its key overnight policy rate unchanged at a record low of 1.75% on March 3rd, 2022, as expected, to support its economic recovery. Meanwhile, policymakers warned that the military conflict in Ukraine emerged as a major risk to global growth and trade prospects, commodity prices, and financial market conditions. The central bank noted that headline inflation is expected to remain moderate as base effects in fuel prices fade, while underlying inflation is forecasted to normalize to around its long-term average as economic activity continues to recover amid lingering high input prices. Policymakers also said the growth recovery would strengthen in 2022 amid improving global demand, higher private expenditure, and improving labor market conditions, as well as the reopening of international borders.
2022-03-03