Malaysia's central bank cut interest rates for the first time in five years on Wednesday, as global trade uncertainties threaten the export-oriented economy, raising the prospect it may lower borrowing costs again this year to shield the economy.

KUALA LUMPUR] Malaysia lowered its benchmark interest rate for the first time in five years, acting after US President Donald Trump increased a threatened tariff on the South-east Asian country to 25 per cent.

Malaysia’s central bank has finally joined its rate-cutting peers, lowering its benchmark interest rate for the first time in over three years to support the economy.