Thrills is this year's hit duet by Sia &Nicky Jam
It looks like Bank Negara Malaysia's CHEAP Thrills in SENDING a confidential letter to foreign banks and then CONFIRMing it to FOREIGN newswires, has not created stabillity, it is creating CHAOS that can really BITE Malaysia..
Here is what the experts think about Bank Negara Malaysia's JOKE of a PLAN :
1) I don’t think they can contain the offshore market,” said Jeffrey Halley, a market strategist at Oanda Asia Pacific Pte. in Singapore. “Sending letters out and ordering people not to do it may have a short-term effect, but in the medium term it’s not a sustainable policy measure.”
2) Malaysia’s track record means some investors are nervous about the possible introduction of capital controls, though the economy is less vulnerable now than it was in 1997, Brown Brothers Harriman wrote in a Nov. 16 report. It said any limits on hedging would risk “scaring away” global bond investors.
3) ‘Moving the goal posts’ may hurt confidence, RBC’s Trinh says
“The motivation to try and reduce speculation is a reasonable one from a central bank perspective,” said Sue Trinh, head of Asia foreign-exchange strategy at RBC Capital Markets in Hong Kong. “But there are always unintended consequences. Moving the goal posts suddenly and at a whim has destroyed liquidity and foreign investor confidence.”
