吉隆坡，7月9日讯——马来西亚国家银行今日宣布，将隔夜政策利率（OPR）调降25个基点，由3.00%降至2.75%，这是自2020年以来的首次降息。与此同时，利率走廊上限与下限分别调整为3.00%与2.50%。
种植及原产业部长兼马华经济与中小企业事务委员会秘书李家兴对此表示，国行此举反映经济增长放缓、内需不振及国际贸易环境趋弱的现实。他认为，降息能为中小企业与负担房贷的家庭减轻压力，但若缺乏财政与结构性配套政策，恐难以恢复经济信心与活力。
李家兴强调，货币政策虽是缓冲工具，仍需政府推出有针对性的纾困措施。他建议设立中小企业低息贷款渠道、发放生活补贴或消费券、临时减免民生间接税，以及加快公共基建项目执行，以带动内需与就业。
他同时提醒，降息可能带来货币贬值、进口成本上升及定存利率下降等后果，呼吁政府把握此次“政策窗口期”，审慎管理市场预期，并同步检视税制、粮食安全与企业支持政策，以推动长远改革。
经济学家普遍认为，本次降息是国行在当前全球贸易与关税压力下的“预防性措施”，并有助于稳定经济增长与控制通胀。首季GDP增速仅4.4%，6月通胀率降至四年新低约1.2%，再加上7月1日起美国宣布对大马加征25%关税，进一步加剧市场不确定性。
李家兴指出，此次降息行动虽有助缓和经济下行，但单靠降息无法全面提振内需与投资，他呼吁政府同步推出协调性财政与结构性对策，才能真正实现稳增长、激活市场信心。
KUALA LUMPUR, July 9 — Malaysia’s central bank has cut its benchmark Overnight Policy Rate (OPR) by 25 basis points to 2.75%, marking the first rate cut since 2020. The ceiling and floor of the OPR corridor were also adjusted to 3.00% and 2.50% respectively.
Li Jiaxing, Secretary of the MCA’s Economic and SME Affairs Committee, said this move by Bank Negara Malaysia reflects concerns over slower domestic growth, weak private consumption and rising global trade uncertainties. While the rate cut may ease burdens on SMEs and homeowners with mortgages, he warned that without matching fiscal and structural policies, it would be difficult to fully revive economic confidence and momentum.
He stressed that monetary policy can only provide liquidity support. To be truly effective, it needs to be complemented by government measures. Li urged the administration to introduce targeted relief packages, such as special low-interest financing for SMEs, direct living subsidies or digital vouchers to spur household spending, temporary reductions or exemptions on indirect taxes for essential goods like vegetables and staple food, and accelerating public infrastructure projects to drive domestic demand and job creation.
Li also cautioned that while lower interest rates can stimulate the economy, they also carry side effects such as a weaker currency, higher import costs and lower returns on fixed deposits. He called on the government to use this “policy window” wisely, manage market expectations carefully, and simultaneously review the tax structure, food security strategies and SME support policies to drive long-term reforms.
Economists widely see this cut as a pre-emptive step by the central bank to stabilise growth amid global trade headwinds and tariff pressures. Malaysia’s GDP expanded just 4.4% in the first quarter, while headline inflation cooled to around 1.2% in June, its lowest in four years. On top of this, new US tariffs of 25% on Malaysian goods that took effect on July 1 have added to the economic uncertainty.
Li concluded that while the rate cut will help cushion downside risks, it cannot alone lift domestic demand and investment sentiment. He reiterated the MCA’s call for the government to roll out coordinated fiscal and structural measures alongside monetary easing to truly secure growth and restore market confidence.
