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Malaysia: BNM seen ‘on hold’ this week – UOB

Victor Yong, Interest Rate Strategist at UOB Group, expects the Bank Negara Malaysia (BNM) to leave the policy rate unchanged at the March 3 meeting.

Key Quotes

“Bank Negara Malaysia (BNM) meets on 03 March and market pricing is for the central bank to ease monetary policy.”

“Analysts’ consensus is evenly split (13:9) between a 25bps cut to the Overnight Policy Rate (OPR) and rates on hold scenario.”

Our view is for BNM to hold OPR unchanged at 2.75% for now, though downside risks has intensified with the spread of COVID-19 outside of mainland China.”

Asian stocks recover losses amid hopes of further liquidity infusion

Having renewed fears of the 2008 global financial crisis (GFC) during Friday, Asian shares are on their recovery mode ahead of the European on Monday.
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Forex Today: Global stimulus hopes boost risk, focus on UK/ EZ PMIs

The recovery in the risk sentiment was the main theme in Asia this Monday after the initial negative reaction seen, in light of Friday’s rout and terr
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