Bernama – The ringgit is likely to stay at the current level against the US dollar, at 4.66 to 4.68, as monetary policy action will continue to take centre stage with a US Federal Reserve (Fed) meeting next week.
Bank Muamalat Malaysia Bhd chief economist and social finance head Mohd Afzanizam Abdul Rashid said the ringgit is likely to maintain its course, whereby it will remain in a weak trajectory as the Fed is expected to keep its restrictive monetary stance.
Plus, higher crude oil prices seem to suggest that inflation might take a while to recede towards the two per cent target, which necessitates keeping the benchmark interest rate high.
The European Central Bank’s (ECB) governing council will meet on Thursday with a consensus that there will be no change in the policy rate.
On a Friday-to-Friday basis, the ringgit was lower against the US dollar at 4.6745/6795 from 4.6445/6485 a week earlier.
