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Analysts attribute the ringgit's strong performance to several factors, including a rebound in key sectors such as commodities and manufacturing. Malaysia's robust export growth, particularly in palm oil and electronics, has contributed significantly to the ringgit's appreciation. Additionally, a recovery in demand from major trading partners has further supported the currency's upward trajectory.
Singapore’s MAS has been pioneering efforts to make these credits more viable through initiatives like the "Transition Credits Coalition" (TRACTION), a programme launched at COP28 to scale up transactions from pilot phases to more substantial, market-ready frameworks.
The IAP, which comprises cybersecurity, technology, and finance experts from around the world, is tasked with providing strategic advice to MAS on enhancing the sector's defences against cyber risks.
Mr Pan’s misconduct, which led to the issuance of the prohibition order, occurred during his time as a representative of OCBC, where he was responsible for providing financial advisory services.
On Tuesday, the Nikkei 225 ended the day down by 1.2%, extending its losing streak as investors grappled with the implications of recent comments made by a BOJ official.
This consistent decline is credited to a combination of stabilized food prices, a strengthening rupiah, and effective monetary policies by Bank Indonesia.
China's central bank governor, Pan Gongsheng, reaffirmed the institution's commitment to a supportive monetary policy. Speaking in a state media interview, Pan emphasized the need for counter-cyclical and cross-cyclical adjustments to stabilize economic expectations and boost market confidence amid global uncertainties.
The central bank's decision to maintain a high key interest rate of 50% for the fifth straight meeting underscores its commitment to controlling inflation, despite the recent sharp drop in inflation rates. Concerns about the oversupply of the lira, fueled by high interest rates and foreign investment, continue to pose challenges to Turkey's economic stability.
The rally followed robust U.S. retail sales figures, which increased by 1% in July, reversing a revised 0.2% drop in June.
The Bank of Japan (BOJ) has started signaling a potential end to its prolonged ultra-loose monetary policy, hinting at future interest rate hikes.
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