Bank Negara Malaysia (BNM) raises interest rate after a long pause: implications for the ringgit


KUALA LUMPUR, MALAYSIA – Media OutReach – 26 May 2023 – BNM’s decision to raise the interest rate was an attempt to stabilise the Malaysian ringgit. The OctaFX experts believe that along with the weak exchange rate, the widespread subsidisation of Malaysians increased pro-inflation risks, forcing the BNM to raise the rate.

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