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KUALA LUMPUR: Malaysia's economy grew faster than expected in the first quarter buoyed by firm domestic demand, spurring the central bank to downplay fears of a global slowdown hitting the export-dependent country. Gross domestic product rose 5.6 per cent, according to central bank and government data, fas ....
China’s central bank cut its key interest rate for the first time in almost two years to help bolster an economy that has lost momentum because of a property slump and repeated virus outbreaks. In a stark policy divergence from other major economies, the People’s Bank of China lowered the rate at which it provides one-year loans to banks by 10 basis points the first reduction since April 2020. While inflation is the dominant concern for central bankers in the US and Europe, China’s relatively stable prices mean that policymakers have shifted to boosting growth. Official data yesterday showed that China’s GDP ....
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