Finance Ministry: Ringgit remains competitive, Malaysia’s inflation in check despite uncertainty, headwinds from global geopolitics | Malay Mail

KUALA LUMPUR, April 23 — The Ministry of Finance said the ringgit has remained competitive, with inflation in check, despite headwinds from global geopolitical tensions and uncertainties.

“The prospect of a more aggressive monetary tightening by the US Federal Reserve, with a 50-basis point rate hike expected in May, as well as the overall weakening of currencies in the region, are some of the factors that have influenced the recent movement in the ringgit,” it said. In terms of inflation, the finance ministry said the price control policies imposed by the government, as well as subsidies allocated for the RON95 petroleum and various food items, will protect the people from any implications of further inflationary pressures.

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