FW: RHB | Malaysia | MYR Hits One-Year High Amid Hawkish BNM

 

 

 

 

 

Economic Research			16 November 2017
Malaysia
Economic Update
MYR Hits One-Year High Amid Hawkish BNM   The ringgit has shown some strengthening in the past few days, appreciating by 1.2% to MYR4.1785 per USD at 16 November, from MYR4.229 per USD on 8 November. This was partly due to the weaker USD, on the back of uncertainty over the republican tax bill. This may also be due to the hawkish sentiment by Bank Negara Malaysia from its monetary policy statement on 8 Nov and expectations of a wider current account surplus recorded in 3Q17. Looking forward, we are raising our forecast for MYR to MYR4.10 per USD at end-2018, from MYR4.15 per USD previously, and compared to MYR4.22 per USD expected this year.   Economist:  Vincent Loo Yeong Hong  | +603 9280 2172 Economist:  Aris Nazman Maslan  | +603 9280 2184
To access our recent reports please click on the links below:   13 Nov : Private Investment And a Potential US Corporate Tax Cut’s Impact On Future Growth 09 Nov : BNM Hints at Policy Tightening in 2018 09 Nov : Robust IPI In 3Q Points Towards Stronger GDP Growth 08 Nov : Forex Reserves Continue To Climb Despite Outflows 06 Nov : Exports Slowing, 3Q Growth Strongest Since 2010
Economics Team
Peck Boon Soon	Chief ASEAN Economist	bspeck@rhbgroup.com		+603 9280 2163
Vincent Loo Yeong Hong	Malaysia, Vietnam,	vincent.loo@rhgroup.com		+603 9280 2172
Ng Kee Chou	Singapore, Thailand	ng.kee.chou@rhbgroup.com		+603 9280 2179
Rizki Fajar	Indonesia, Philippines	rizki.fajar@rhbgroup.com		+6221 2970 7065
Aris Nazman Maslan	Malaysia, Vietnam	mohd.aris.nazman@rhbgroup.com		+603 9280 2184

 

 

 

 

This message is intended only for the use of the person(s) to whom it is addressed and may contain information that is privileged or otherwise protected from disclosure. If you are not the intended recipient you are hereby notified that any use, review, disclosure or copying of this message and the information it contains is prohibited. If you receive the message in error, please notify the sender by reply e-mail and discard all its contents.   Thank You.