Free Trial

Ringgit Stays Near Unchanged Levels After BNM Rate Decision

MYR

Spot USD/MYR has been unfazed by the BNM's monetary policy decision and last sits at MYR4.5240, little changed on the day. The rate refreshed its best levels in almost four months today, topping out at MYR4.5317. The RSI remains in overbought territory, which keeps bears on the lookout for a corrective pullback.

  • The BNM left the Overnight Policy Rate unchanged, as expected by a small majority of analysts, with almost the same number of economists calling for a 25bp increase. Policymakers said that they will assess the impact of prior monetary tightening, which affects the economy with a lag.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.