Bank Negara has reaffirmed its commitment to ensure sufficient ringgit liquidity in the onshore market.
The central bank said its recent measures, particularly the reverse repo operations, statutory reserve requirement adjustments, principal dealer facilities and the purchase of government bonds, have ensured sufficient ringgit and bond market liquidity.
“The recent pick-up in interbank repo market activities have allowed banks to better manage liquidity. Bank Negara during its financial markets committee meeting on April 9, the committee also discussed efforts to boost the number of participants in the repo market, including active participation from development financial institutions .
“However, it also acknowledged that financial markets globally continue to be susceptible to shifts in investor sentiment and thus, US dollar liquidity remains a key factor to be closely monitored, ” said the central bank. Meanwhile, on the economic impact of the Covid-19 pandemic and its implication on financial markets, Bank Negara said the committee acknowledged that the global economy will be in recession in 2020, but expects a strong recovery in 2021.
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