KUALA LUMPUR: The High Court hears that Datuk Seri Najib Razak returned US$620mil of unutilised funds from a donation to the source with Bank Negara’s approval. Najib told the Court that the funds he received were used for political and social welfare purposes and stressed that he did not hold any offshore accounts. "Equally shocking is that...
KUALA LUMPUR: Bank Negara’s international reserves rose to US$122bil as at Aug 15, up from US$121.3bil as at July 31. “The reserves position is sufficient to finance 4.8 months of imports of goods and services, and is 0.9 times the total short-term external debt,” Bank Negara said in a statement. The main components of the reserves were...
IPOH: Keretapi Tanah Melayu Bhd (KTMB) has refuted that its Bank Negara Malaysia (BNM) and Kuala Lumpur stations will be closed Saturday (July 26), following an alleged notice circulating on social media. In response to a query by a user on its official Facebook page comment section Frida (July 25), the KTMB admin responded that there...
KUALA LUMPUR: Bank Negara has cut the Overnight Policy Rate (OPR) by 25 basis points to 2.75% at its July Monetary Policy Committee (MPC) meeting, marking the first rate adjustment since May 2023. The latest move by Bank Negara was broadly in line with market expectations, following a Bloomberg poll that showed economists were split, with...
Bank Negara Malaysia said the ringgit’s exchange rate is market-determined and that the central bank’s derivative positions are used to manage liquidity conditions. "BNM’s short forward positions reflect the central bank’s activities in managing the liquidity needs of the domestic financial market for effective financial intermediation,” the central bank said in an emailed statement. "These positions are...
PETALING JAYA: If the 24% reciprocal tariff by the United States on Malaysia were to take effect in the near term, this will raise the chances of Bank Negara revising the benchmark lending rate – the overnight policy rate (OPR). Most experts, however, said the central bank is unlikely to lower the rates solely on tariffs...
Malaysian bonds are turning vulnerable to further outflows as local yields are seen rising along with those on Treasuries with Donald Trump poised to be the next US president. The nation’s corporate and sovereign bonds saw a net outflow of 11.2 billion ringgit ($2.6 billion) last month, the most since March 2020, according to Bank Negara...
KUALA LUMPUR: The ringgit closed marginally higher against the US dollar on Monday as a lower domestic inflation rate helped to extend its recent gains, an analyst said. At 6 pm, the local currency climbed to 4.2000/2060 against the greenback, compared to last week's close of 4.2005/2070. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul...
KUALA LUMPUR: Bank Negara’s international reserves totalled US$115.9bil as of Aug 15, up 1.05% from US$114.7bil as of July 31. “The reserves position is sufficient to finance 5.4 months of imports of goods and services, and is 1.0 times of the total short-term external debt,” the central bank said in a statement. The main components of the...
KUALA LUMPUR: The National Fraud Portal (NFP) launched today will leverage on artificial intelligence (AI) to detect suspicious transactions through predictive analysis. Bank Negara Malaysia (BNM) governor Datuk Seri Abdul Rasheed Ghaffour said one of the NFP’s main characteristics is its modular design which allows for continuous improvements to be made on the existing basic infrastructure. He...
