March 19, 2020 / 9:21 AM / 22 days ago

Malaysia's central bank cuts statutory reserve ratio to 2.00%

KUALA LUMPUR, March 19 (Reuters) - Malaysia’s central bank on Thursday lowered its statutory reserve ratio by 100 basis point to 2.00%, as the country entered its second day of travel and business curbs imposed by the government to contain the spread of the coronavirus.

Bank Negara Malaysia (BNM) said it will also allow each principal dealer until March 31 to recognise up to 1 billion ringgit ($226.9 million) in Malaysian government bonds as part of compliance with its statutory reserve ratio (SRR).

“These combined measures will release approximately 30 billion ringgit worth of liquidity into the banking system,” BNM said in a statement.

$1 = 4.4070 ringgit Reporting by Joseph Sipalan; editing by Jason Neely

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