Ringgit Edges Higher as BNM Keeps Interest Rates Unchanged
The Malaysian ringgit has edged higher against the US dollar after Bank Negara Malaysia (BNM) kept the overnight policy rate (OPR) unchanged at 2.75%. The central bank stated that its current monetary policy stance remains consistent with continued price stability and sustainable economic growth.
Economic indicators point to resilient global growth, supported by strong global technology expansion, improving supply conditions, and stable labour markets. BNM expects Malaysia's economic growth to reach around 5% in 2026, driven by solid momentum.
Afzanizam Rashid, chief economist at Bank Muamalat Malaysia Bhd, noted that the ringgit remains in a tight range against the greenback as markets await the US non-farm payrolls (NFP) figures to be released on Friday night. The ADP Employment Report has fallen short of expectations, which may signal that the NFP could potentially disappoint market expectations.