KUALA LUMPUR, May 10 — The ringgit opened slightly higher against the US dollar today ahead of Bank Negara Malaysia’s (BNM) Monetary Policy Committee (MPC) meeting, which is scheduled for tomorrow. At 9.02am, the local note stood at 4.3820/3850 versus the greenback from Monday’s close of...
KUALA LUMPUR, May 10 — The ringgit opened slightly higher against the US dollar today ahead of Bank Negara Malaysia’s Monetary Policy Committee meeting, which is scheduled for tomorrow.
Bank Islam Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid expects BNM to keep the borrowing cost unchanged as the central bank would assess the country’s economy independently. “While the Fed can be a trend setter for rates, but we think BNM would weigh various angle before they make any move,” he told Bernama.
He said it was definitely a risk-off mode whereby investors were seeking refuge over the heightened uncertainties.
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