Bank Negara Malaysia (BNM) today again reduced its key overnight policy rate by 50 basis points to 2.00 percent, after just a month after slashing it by 75 basis points. This could be good news for those who are looking to get financing for their property purchases. The bad news is, our economy is quickly deteriorating. The current BLR in many major banks are at 5.95%. Full press release here.

UPDATE 1-Malaysia cuts key rate again as recession looms
Tue Feb 24, 2009 4:10pm IST

KUALA LUMPUR, Feb 24 (Reuters) - Malaysia cut its key rate for a third straight meeting, the latest sign of concern that the country may slip into a recession, just days before fourth-quarter economic data that is expected to be sombre.

Bank Negara Malaysia (BNM) cut its key overnight policy rate by 50 basis points to 2.00 percent on Tuesday, nearly a month after slashing it by 75 basis points.

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