Malaysia policy rate holds at 2.75% in September 2026

Malaysia's central bank policy rate was 2.75% in September 2026, according to Bank Negara Malaysia. The figure matches August 2026, when the rate was also 2.75%. Housing Market Group calculations based on Bank Negara Malaysia figures show a change of 0 percentage points between August 2026 and September 2026.

The monthly record points to a steady setting through the middle of the year. Bank Negara Malaysia reported a policy rate of 2.75% in May 2026, June 2026, July 2026 and August 2026, so the September 2026 reading continues an unbroken run at that level. The longer view is similar. The rate was 2.75% in September 2025, and HMG's calculation from Bank Negara Malaysia data puts the change between September 2025 and September 2026 at 0 percentage points. For borrowers and buyers watching mortgage costs, the benchmark set by the central bank has not moved over that period.

Other central banks have taken different paths over the same period. In Australia, the policy rate was 4.6% in September 2026, according to the Reserve Bank of Australia, and HMG calculates that it rose by 1 percentage point from September 2025. Germany and Spain both recorded a rate of 2.5% in September 2026, according to the Deutsche Bundesbank and the Banco de España respectively, with each up 0.5 percentage points on a year earlier based on HMG calculations. These increases contrast with Malaysia, where the rate held still.

Some countries moved in the opposite direction. The Bank of Canada's policy rate was 2.25% in September 2026, down 0.25 percentage points from September 2025 by HMG's calculation. The Bank of England's rate stood at 3.75% in September 2026, also 0.25 percentage points lower than a year earlier. Brazil had the highest rate among the countries compared, at 13.75% in September 2026 according to the Bank for International Settlements, and it recorded a fall of 1.25 percentage points from September 2025, based on HMG calculations from the same source.

Placing these year-on-year changes side by side, HMG ranks Malaysia 4 of 7 among the 7 countries in this comparison for September 2026, where the country with the largest increase ranks first and falls count as negative changes. That middle position reflects the fact that Malaysia's rate neither rose nor fell, leaving it below the countries that tightened and above those that eased. In terms of level, Malaysia's 2.75% in September 2026 sat above the rates recorded in Canada, Germany and Spain, and below those in the United Kingdom, Australia and Brazil.

Taken together, the figures describe a period of stability for Malaysia's benchmark rate at a time when policy settings elsewhere shifted in both directions. The September 2026 reading of 2.75% is identical to each monthly figure from May 2026 onward and to the level recorded in September 2025, according to Bank Negara Malaysia.