22 March 2019
In a research note today, it said the US Federal Reserve had put on hold the movement of Federal Funds rate in 2019, a surprise change from its previous decision to undertake two more hikes this year. “It now sees economic gains of just 2.1 per cent this year, down from the 2.3 per cent estimated in December, and inflation only reaching 1.8 per cent, while the unemployment rate is now at 3.7 per cent.
It said this new prospect will have a resonating impact across the global capital, currency and asset markets with emerging market economies standing to benefit the most. According to PIVB, Malaysia could be the immediate target, driven by higher real rate of return vis-a-vis the US, due to its higher interest rate and benign inflation.
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