Bank Negara Malaysia slashed the rate by 50 basis points to 2.00 percent, as expected by economists, in its third cut this year.
It came a day after the government allowed most businesses to reopen after a six-week lockdown. Malaysia's outbreak has been small - it has recorded about 6,000 cases and 100 deaths - but the prime minister has said the curbs have so far cost the economy 63 billion ringgit ($14.6 billion).