central bank


Weaker dollar adds to optimism over US earnings

NEW YORK, Jan 20 — The dollar’s drop to three-year lows this week after prolonged weakness in 2017 is expected to further boost profits at big US companies when investor optimism is already high over corporate tax cuts. Investors are keeping…

Ringgit ends 180 pips higher versus greenback

KUALA LUMPUR: The ringgit advanced 180 pips to an 18-month high today as traders pricing in local interest rate hike probability next week.

At 6pm, the local note finished at 3.9360/9400 against the greenback, the level last seen in July 2016, from 3.9540/9570 on Thursday.

A dealer said players were cautious ahead of the BNM's Monetary Policy Committee (MPC) meeting next week which may decide to raise the Overnight Policy Rate (OPR), which currently stood at 3.00%.

“Market rumours are rife that the central bank may raise the OPR by 25 basis points (bps) to 3.25 per cent after the hawkish shift in the last meeting. Pricing in the hike, that triggered ringgit's purchase since this morning,” she told Bernama.

Meanwhile, the ringgit traded mixed against a basket of major currencies.

The local note strengthened against the Singapore dollar to 2.9820/9869 from Thursday's 2.9887/9912.

The ringgit, however, depreciated against the yen to 3.5572/5617 from Thursday's 3.5522/5553, down against the euro to 4.8322/8387 from 4.8290/8339 and slipped against the British pound to 5.4742/4801 from 5.4731/4777 previously. — Bernama

Ringgit ends higher ahead of Bank Negara meet

KUALA LUMPUR, Jan 19 —The ringgit advanced 180 pips to an 18-month high today as traders pricing in local interest rate hike probability next week. At 6pm, the local note finished at 3.9360/9400 against the greenback, the level last seen in…

Authorities warn public to beware initial coin offerings

KUALA LUMPUR, Jan 19 — Securities Commission Malaysia (SC) and Bank Negara Malaysia (BNM) have advised the public to be wary of any initial coin offering (ICO) schemes. The public are reminded to exercise caution before participating in…

Indonesia signals no more rate cuts as inflation risks rise

JAKARTA, Jan 19 — Indonesia’s central bank signaled the end of monetary policy easing as it focuses on inflation risks, such as rising food and oil costs. After keeping the benchmark interest rate at 4.25 per cent — as forecast by all 24…

Asian currencies firm as US dollar wallows near three-year low

SINGAPORE, Jan 19 — Asian currencies strengthened today as the US dollar languished on fears over a US government shutdown and as China’s strong economic growth figures boosted sentiment in the region. The US dollar index was down 0.165 at…

Tide of money drowns out HK property warning by central banker

HONG KONG, Jan 19 — Why are official warnings of the threat that rising interest rates pose to Hong Kong’s red-hot housing market falling on deaf ears? The Hong Kong Monetary Authority and the International Monetary Fund have both…

Indonesia central bank holds rates, to accelerate reserve rules

JAKARTA, Jan 19 — Indonesia’s central bank yesterday kept its key interest rate unchanged, as expected, but pledged to accelerate planned changes of rules on reserve requirements, to give banks more liquidity and encourage them to invest money….

US jobless claims hit 45-year low as labour market tightens

WASHINGTON DC, Jan 18 — New claims for US unemployment benefits fell to their lowest level in nearly 45 years last week, a fresh sign of the increasingly tight American labour market, according to weekly data released today. The figures,…