Malaysia central bank lifts key rate again to curb inflation

Malaysia’s central bank has raised its benchmark interest rate for the second straight meeting as it battles inflation. It lifted its overnight policy rate by 0.25 percentage points to 2.25%, after raising it from a historical low of 1.75% at its last meeting. The hike marks Malaysia’s first back-to-back rise in more than a decade. Malaysia’s latest inflation at 2.8% appears low compared to other countries. But the finance minister has warned that inflation could have exceeded 11% in May, without subsidies that include price caps on chicken and eggs.

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