Weeks before the general elections, Malaysia raised its primary interest rate for the fourth time in a row on Thursday. It is anticipated that voters’ top concerns would be the rising cost of living and the decline in Rangeit to its lowest level in 24 years.
The Bloomberg News Agency reports that the Malaysian Central Bank increased the interest rate by 25 basis points to 2 after midnight.
22 out of 24 economists in a survey by the Bloomberg Agency predicted a change in 75% of the cases, while the other economists expected no change.
The Malaysian Central Bank is under pressure to keep the inflation rate under control, while supports growth, while election campaigns are raging in preparation for the elections held on November 19.
According to over 80% of those who took part in a recent opinion survey, the government should either focus on reviving and bolstering the economy or on tackling poverty and the issue of the high cost of living.
Prior to the elections, Malaysia increases the interest rate by 25 basis points.
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