OctaFX: August inflation data may give more power to the ringgit
- Written by Reporters
Malaysia's sharp decline in inflation is likely to stop: August figures will likely remain at 2.0%. Against the backdrop of monetary policy easing, this may support the ringgit. Kar Yong Ang, the OctaFX financial market analyst, shares his opinion.
- Inflation in Malaysia slowed to 2.0% in July. Annual consumer inflation is expected to remain unchanged in August.
- Due to economic growth and easing inflation, Malaysia's central bank kept its benchmark interest rate unchanged at the last meeting.
- In the current economic conditions, USDMYR will decline towards 4.520 and possibly lower.
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About OctaFX
OctaFX is an international broker that has been providing online trading services worldwide since 2011. It offers commission-free access to financial markets and various services already utilised by clients from 180 countries who have opened more than 42 million trading accounts. Free educational webinars, articles, and analytical tools they provide help clients reach their investment goals. The company is involved in a comprehensive network of charitable and humanitarian initiatives, including the improvement of educational infrastructure and short-notice relief projects supporting local communities. In the APAC region, OctaFX captured the ‘Best Forex Broker Malaysia 2022’ and the ‘Best Global Broker Asia 2022’ awards from Global Banking and Finance Review and International Business Magazine, respectively.
Source https://www.media-outreach.com/news/malaysia/2023/09/20/247305/