The CBM re-announced that effective date will be March 16.
U Zaw Oo, an economist from the Centre of Economic and Social Development, warned that a weaker Chinese economy could slow foreign direct investments into Myanmar and delay China's spending on key projects under its Belt and Road Initiative. These include the Muse cross border trade zone, China-Myanmar Economic Corridor, Kyaukphyu Special Economic Zone and New Yangon City.
U Than Lwin senior consultant from Kanbawza Bank, said: “This is the right time to decrease the bank interest rate and drive the economy. The process of easing interest rates is very quick overseas and central banks are quick to respond to the needs of their economies. We need to reduce the bank’s interest rates in order to revitalise businesses in Myanmar."