Is a 2015 mega hit for KYGO. Analyst meanwhile looks ready to place their hands on a 'Firestone", and bet that Bank Negara Malaysia will not cut interest rate today.
Everyone in the money market seems to agree that the Ringgit is worst of than other currencies, because, Bank Negara Malaysia had ACTED as THE Little HELPER to the Ringgit BEARS.
Heads must role at the central bank. Bloomberg meanwhile has the story on the NO go for an interest rate cut, as well as the Little HELPER's ROLE:
Asia’s worst-performing currency since Donald Trump’s surprise U.S. election victory is putting a Malaysian interest-rate cut out of sight for now.
After surprising the market with a reduction in July, economists surveyed by Bloomberg in the days leading up to the U.S. vote had forecast another cut this year.
Trump’s win and the ensuing U.S. dollar rally have swept those bets away, with all 19 economists polled in a fresh survey predicting Bank Negara Malaysia will hold the overnight policy rate at 3 percent on Wednesday.
The ringgit has fallen more than 5 percent since the Nov. 8 U.S. elections, as emerging Asian economies suffered about $11 billion of outflows.
Bank Negara’s attempt to stop foreign banks from using offshore forwards to bet against the currency exacerbated the decline, as it evoked fears of capital controls imposed during the Asian financial crisis in 1998.
