Interest rate cut could cause ringgit to depreciate further, says Dr Wee

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Interest rate cut could cause ringgit to depreciate further, says Dr Wee
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PETALING JAYA: Bank Negara’s decision to lower interest rates could cause the ringgit to depreciate further and the Government should closely monitor the local currency, says MCA president Datuk Seri

Dr Wee Ka Siong.

“Therefore, more foreign funds may decide to sell Malaysian bonds and withdraw money from Malaysia to invest in the United States or other countries,” he said in a Facebook post Tuesday .

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