KUALA LUMPUR, Jan 20 — Bank Negara Malaysia’s continuous positive tone over Malaysia’s economic growth has helped to lift the ringgit to end higher against the US dollar today.
Bank Islam Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid told Bernama that the central bank appeared to be comfortable with the state of the economy as its reopening will continue to occur amid effective vaccination rollout. The central bank said labour market conditions have also improved in many countries, although several countries reintroduced measures to curb ongoing Covid-19 resurgences, causing some moderation in the pace of recovery in domestic activity, especially services.
“We are maintaining our call that the OPR would be raised by 25 basis points in the second half of 2022,” Mohd Afzanizam said.
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