Negeri Sembilan Election Tests PH Support as US Fed Decides Monetary Policy
The upcoming Negeri Sembilan state election on August 1 will be closely watched as a test of support for Pakatan Harapan (PH) and its governing record. The election will see incumbent PH coalition contesting all 36 seats, alongside Barisan Nasional (BN), Bersatu, Perikatan Nasional (PN), and several other parties.
UOB Global Economics & Markets Research economist Alvin Liew notes that the high number of three-cornered and multi-cornered contests underscores an increasingly fragmented political landscape following the breakdown of previous electoral alliances.
In related economic news, the US Federal Reserve is set to announce its monetary policy decision on July 30. According to UOB, the Fed will likely keep its Fed Funds Target Rate (FFTR) steady at 3.50%-3.75% in the July meeting, aligning with Bloomberg's consensus.
Other major economies will also be releasing key economic data, including inflation figures from Australia, Japan, Spain, and Germany, as well as gross domestic product (GDP) data from Taiwan and Hong Kong.