Emerging Asian currencies slumped on Friday, with the yuan hitting a 18-month low, after investors aired concerns that rising interest rates and China reinforcing its "zero-COVID policy" could impede economic growth across the region.
KUALA LUMPUR (May 6) : Bank Negara Malaysia (BNM) is expected to hike rates soon on improved economic conditions and inflationary pressure, said some economists on Thursday (May 5).
JUST last week, the International Monetary Fund (IMF) said that it expects global economic growth to slow significantly this year as the effects of the war in Ukraine spread to the rest of the world. The international body revised downward its global growth forecast for the year to 3.6% from a 4.4% forecast made in January.
THE weakening of the ringgit, which is heading for its biggest monthly loss in more than five years, raises the issue of whether Malaysia should rewire the economy via a strong or perhaps more stable ringgit policy.