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KUALA LUMPUR: The ringgit opened higher against the US dollar today, boosted by Prime Minister Tan Sri Muhyiddin Yassin’s announcement of the RM15 billion Malaysian Economic and Rakyat’s Protection Assistance Package (PERMAI) package yesterday, as well as higher crude oil prices.
KUALA LUMUR: The FBM KLCI stayed mostly flat in early trade as investors took a breather from the recent selling.
LONDON: European stocks rose on Monday as a jump in carmaker Stellantis and luxury stocks helped reverse early market losses due to worries about an economic recovery and losses in French grocer Carrefour.
Economists divided on why central bank should maintain or cut rate
PETALING JAYA: Malaysia’s overnight policy rate (OPR) has been at its all-time low at 1.75% since July last year as Bank Negara’s Monetary Policy Committee (MPC) sought to accelerate economic recovery post movement control order (MCO).
KUALA LUMPUR: The FBM KLCI closed off lows after the prime minister announced another assistance package worth RM15bil to ease the pressure following the pandemic.
KUALA LUMPUR: Tan Sri Muhyiddin Yassin expects the impact of the current Movement Control Order (MCO) on the economy to be manageable as growth will continue to be supported by strong exports sector and the global trade recovery.
KUALA LUMPUR: Malaysia's central bank is expected to cut key interest rates to historic lows on Wednesday, according to a Reuters poll, after surging coronavirus infections led the government to impose fresh lockdowns, further curbing economic activity.