Maybank does not rule out another Malaysia central bank rate cut this year

August 25, 2016 2:46 AM EDT

Customers leave a branch of Malaysia's Maybank in Putrajaya October 9, 2009. REUTERS/Bazuki Muhammad

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KUALA LUMPUR (Reuters) - Malaysia's biggest lender Malayan Banking Bhd (Maybank) is not ruling out another 25-basis-point rate cut by the central bank this year, its chief executive Abdul Farid Alias told reporters on Thursday following the bank's quarterly results.

Last month, Bank Negara Malaysia surprised markets by cutting its overnight interest rate by 25 basis points to 3.00 percent, the country's first rate cut since 2009.

The central bank governor later told state news agency Bernama that the rate cut was a "pre-emptive move" to ensure solid 2016 growth and it was "not true" there would be a series of rate reductions.

(Reporting by Liz Lee; Editing by Jacqueline Wong)

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