Bank Negara is prepared to ensure orderly market condition

KUALA LUMPUR: Bank Negara is ready to deploy tools at its disposal to ensure that the financial markets remain orderly and continue to function efficiently in light of the current geopolitical situation in the Middle East.

“Bank Negara continues to closely monitor conditions in the financial markets and will manage any risks arising from heightened financial market volatility,” it said in a statement yesterday.

The central bank said it has engaged with financial market participants, including heads of treasury operations who concurred that any uncertainties would recede and stabilise once the geopolitical situation de-escalates.

It will also ensure sufficient liquidity and the orderly functioning of the foreign exchange market, supported by ongoing initiatives with government-linked companies, government-linked investment companies, corporates and exporters to bring inflows and liquidity into the foreign exchange market.

On Sunday, Prime Minister Datuk Seri Anwar Ibrahim, who is also the Finance Minister, said the government is closely monitoring the developments in the Middle East conflict and the financial market situation, including the potential impact on the country.

“The government will act wisely to strengthen the country’s economic and financial stability,” he added. — Bernama

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