KUALA LUMPUR (Dec 14): Former AmBank relationship manager Joanna Yu said at the 1Malaysia Development Bhd-Tanore (1MDB-Tanore) trial that she was “shocked” that former prime minister Datuk Seri Najib Razak had been interested in opening private bank accounts at AmBank. Testifying as the 41st prosecution witness in the trial on Wednesday (Dec 14), Yu was answering questions from defence lawyer Tan Sri Shafee Abdullah, who had asked her about the opening of Najib’s AmPrivate Islamic accounts with the bank.
Former AmBank relationship manager Joanna Yu told the court on Thursday (Dec 15) that it might have been her own perception that she was not to approach Datuk Seri Najib Razak when she was handling his personal accounts with the bank as he was the prime minister at the time.
The key focus this week is the US Federal Reserve’s interest rate decision early Thursday and the November inflation rate of the world’s largest economy.
As former Bank Negara Malaysia (BNM) governor Tan Sri Dr Zeti Akhtar Aziz is unwell, her testimony at the ongoing 1Malaysia Development Bhd-Tanore (1MDB-Tanore) trial has been postponed to another day. Earlier, the prosecution had indicated she was on standby to testify on Thursday (Nov 24).
In focus this week is the response of Asian central bankers to the 75-basis-point increase in the benchmark federal funds rate by the US Federal Reserve, as well as developments in the US-Taiwan annual security talks, referred to as the Monterey Talks. With the US Federal Open Market Committee (FOMC) having raised the key rate to a target of between 1.5% and 1.75%, in its largest hike for a single meeting dating back to 1994, all eyes will be on how Asian central banks react as China, Indonesia and the Philippines will be releasing their respective monetary policy decisions.