Malaysia’s central bank cut its key interest rate by 50 basis points to 2 per cent on Tuesday (May 5), its lowest since 2009, to help the South-east Asian economy weather the impact of the coronavirus pandemic and a collapse in prices for its energy exports.

Prime Minister Muhyiddin Yassin has unveiled an RM35 billion stimulus package to help the economy recover from the impact of Covid-19 and the subsequent Movement Control Order since March 18, which saw the majority of businesses shut down for nearly three months under restrictions on public activities.