Bank Negara to hike rates again in July and Sept - report

Bank Negara Malaysia (BNM) will raise rates by 25 basis points on Wednesday, its first consecutive rise in more than a decade, to rein in inflation stemming in part from a weaker ringgit as the US Federal Reserve hikes aggressively, a Reuters poll found.

BNM, although dealing with low inflation compared with many other economies, unexpectedly raised its key overnight policy rate by 25 basis points to 2.00 percent at its May meeting.

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