Ringgit opens slightly lower on possible rate cuts
Market sentiment for the ringgit is weak with the overhanging possibility of interest rate cuts. ― File pic
At 9am, the ringgit was quoted at 4.1350/1400 compared with 4.1320/1370 at Tuesday's close as the market was closed yesterday in conjunction with Labour day. “We believe that BNM now has a bigger leeway to cut its OPR rate by 25 basis points, possibly at its next Monetary Policy Committee meeting on May 7,” it said.
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