KUALA LUMPUR, Sept 9 — The ringgit closed slightly higher against the US dollar on Thursday following Bank Negara Malaysia’s decision to keep the overnight policy rate unchanged at 1.75 per cent, says an economist.
Commenting on the BNM’s stance, Bank Islam chief economist Dr Mohd Afzanizam Abdul Rashid said the balance of risks are still tilted to the downside. Bank Negara Malaysia has maintained the Overnight Policy Rate at 1.75 per cent at its fifth Monetary Policy Committee meeting earlier today.“In addition, fiscal and financial measures will continue to cushion the economic impact on businesses and households and provide support to economic activities,” it said.Meanwhile, the local note was traded lower against a basket of major currencies at the close.
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