Bank Negara: Structural reforms crucial

Abdul Rasheed reiterated that the recent decline in the value of the ringgit was “temporary”.

PETALING JAYA: While Bank Negara remains committed to playing its part in preserving confidence in the ringgit, it reiterates that structural reforms are still key to the long-term strengthening of the local currency.

The central bank pointed out that they are crucial not only to ensure stronger and more sustainable economic growth, but they are also need to raise Malaysia’s competitiveness and raise the standard of living of the people.