Edited by pengecattaik at 20-9-2024 02:51 AM
Tu diaaaaa...
KUALA LUMPUR: The ringgit has continued to strengthen against the US dollar, hitting a 28-month high  versus the greenback after the US Federal Reserve (Fed) kept to its words and delivered a 50 basis points interest rate cut last night, an analyst said.
Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid said the Fed’s announcement has alleviated market uncertainties, adding that the Fed seems to be on track to ensure a soft landing for the US economy.
At the same time, he noted that the disinflationary trend would persist, allowing the Fed to focus on its other mandate, namely maximum employment.
Judging from the long-term Fed Fund Rate (FFR) of 2.9%, he told Bernama that the Fed is likely to continue to cut the benchmark interest rate in order to provide monetary support to the economy.
Meanwhile, he also said that Bank Negara Malaysia (BNM) is likely to maintain the overnight policy rate (OPR) at 3% for the remainder of the year as the prevailing monetary condition is supportive of growth.
Hence, he said the ringgit is poised to stage further appreciation in the near-term.
“The ringgit/US dollar is currently flirting around the immediate support level. Should it breach this point, the next support level will be located at RM4.0728, he added.
| 
Post time 19-9-2024 08:44 PM
变色卡
Author
![Menjengah kehidupan baru Shuhada di OZ [siri pembongkaran acik forum]](https://uf.cari.com.my/forumx/mforum/block/da/da339e542879ef07fe6217b4f2bd30d4.jpg)
