Day: July 23, 2024

KUALA LUMPUR, The ringgit is expected to end firmer at 4.60 against the US dollar by the end of this year, said Maybank Investment Bank Bhd (Maybank IB). Its group chief economist, Suhaimi Ilias said the forecast of a stronger ringgit follows the US Federal Reserve’s (Fed) interest rate cut expectation and Bank Negara Malaysia’s (BNM) decision to maintain the overnight policy rate (OPR) at 3.00 per cent. He said the Fed is expected to start cutting interest rates as soon as September and there will be three rates cut during the Federal Open Market Committee meeting in September, November