Malaysia won't use interest rates to prop up the ringgit, says central bank deputy chief
Publishing timestamp: 2024-05-14 02:57:14
Summary
Malaysia's central bank will not use monetary policy to support its currency, focusing instead on economic growth and inflation outlook. The ringgit's performance is currently not reflective of the country's economic fundamentals, with external factors and U.S. dollar strength impacting Asian currencies. The central bank is taking measures to stabilize the ringgit, including market operations and working with government-linked companies to repatriate foreign income. Malaysia's monetary policy stance remains supportive of the economy, with potential for inflation to rise in the future.
Sentiment: NEUTRAL
Keywords: us dollar/malaysian ringgit fx spot rate, prices, business news, malaysia, currency markets, economic events, world markets, us dollar/korean won fx spot rate, usd/jpy, forex markets,
Source: https://www.cnbc.com/2024/05/14/malaysia-wont-use-monetary-policy-as-tool-to-prop-up-ringgit-.html