July 11, 2018 / 7:03 AM / a year ago

CORRECTED (OFFICIAL)-Malaysia's c.bank holds its policy interest rate at 3.25 pct

(Corrects quote in third paragraph to remove reference to monetary and financial conditions after central bank amends its statement)

KUALA LUMPUR, July 11 (Reuters) - Malaysia’s central bank kept its key interest rate at 3.25 percent on Wednesday, as expected, as inflation is not a threat and there’s no pressure at present to raise rates.

All 10 economists polled by Reuters had forecast that Bank Negara Malaysia (BNM) would hold its overnight policy rate .

“At the current level of the OPR, the degree of monetary accommodativeness is consistent with the intended policy stance,” BNM said in a statement.

The central bank raised its key rate in January, when inflation was higher, to “normalise” policy.

The January hike was BNM’s first since July 2014, and the first rate change since July 2016, when there was a 25 basis point cut.

Wednesday’s policy meeting was the first under a new governor, Nor Shamsiah Mohd Yunus, and the second since a May election that brought Malaysia’s first change of government since independence in 1957. (Reporting by Joseph Sipalan; Editing by Richard Borsuk)

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