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.

The Reserve Bank of New Zealand said it needs to keep watch on inflation risks, which have risen over recent months.

The Reserve Bank of Australia decision dashed the expectations of millions of working-class households of early relief from crushing home mortgage repayments.