PUTRAJAYA: Finance Minister II Datuk Seri Amir Hamzah Azizan expects the ringgit to strengthen against the US dollar this year as the US Federal Open Market Committee (FOMC) has signalled the end of interest rate hikes after raising the benchmark interest rates 11 times since March 2022 to the current rate of 5.25-5.50 per cent.
"The US Federal Reserve (Fed) has probably reached the end of the interest rate hikes period, so we expect this year that we should see the interest rate to be chipped off in the US if there are no material geopolitical events, we should see the ringgit strengthened throughout the year,” he said.
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