Analysts predict that if the Fed posts a dovish economic assessment, then the ringgit could appreciate slightly. – The Malaysian Insight file pic, April 29, 2023.
The fall in the First Republic Bank share prices, the US debt ceiling debate and the US first quarter 2023 GDP print, which grew slower than expected at 1.1% from 2.6% in the preceding quarter, has led the risk-off mode to seep in, he said. “Should they push forward with the interest rate hike, it might lead to slower labour hiring as businesses would become mindful of the economic outlook and how it might affect their profitability.
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