Ringgit opens stronger vs greenback as Fed leaves rates unchanged:
KUALA LUMPUR: The ringgit opened stronger against the US dollar today, supported by renewed ...
thestar.com.my/business/business-news/2025/05/08/ringgit-opens-stronger-vs-greenback-as-fed-leaves-rates-unchanged
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Ringgit opens firmer after Fed decisionAt 8 a.m., the currency traded at 4.2205/2510 per US dollar; an economist sees possible Fed cuts later this year.
Key FactsMay 8, 2025 · Reading time: ~45 sec.
Summary created with AI assistance · Source: thestar.com.my
Summary created with AI assistance · Source: thestar.com.my
- At 8 a.m., the ringgit traded at 4.2205/2510 per US dollar, versus Wednesday’s close of 4.2360/2435.
- The FOMC unanimously kept its key rate unchanged, as expected, between 4.25 and 4.50 per cent.
- Mohd Afzanizam expects possible Fed rate cuts in the second half, once tariff-shock effects become clearer.
- Economists were divided over today’s BNM decision; Mohd Afzanizam expected a pre-emptive 25-basis-point reduction.
It was a unanimous decision and in line with market expectations. Despite that, the FOMC has become increasingly worried about the prospect of higher inflation and unemployment, a situation best described as stagflation (stagnant growth but high inflation).— Dr Mohd Afzanizam Abdul Rashid, chief economist of Bank Muamalat Malaysia Bhd, told Bernama.
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