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Malaysian ringgit holds steady as Bank Negara keeps OPR at 2.75%
USD/MYR eased to 4.07, but the pair remains elevated on domestic political uncertainty ahead of state elections, Commerzbank says.
Bank Negara Malaysia kept the Overnight Policy Rate at 2.75% for a sixth straight meeting, maintaining a cautious tone on global risks, according to Commerzbank’s Dr. Henry Hao and Moses Lim as cited by FXStreet.
Commerzbank expects Malaysia’s growth to remain in a 4% to 5% range, with inflation contained.
FXStreet reports that USD/MYR eased to 4.07 but stayed elevated due to domestic political uncertainty and upcoming state elections, factors that are seen as continuing to weigh on the currency despite the unchanged policy rate.
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