Ringgit expected to maintain support ahead of BNM policy meeting

The Malaysian ringgit is expected to receive continued support next week ahead of the Bank Negara Malaysia (BNM) Monetary Policy Committee meeting on September 3. Analysts anticipate that the central bank will maintain the Overnight Policy Rate (OPR) at 2.75 percent.

Economic growth remains robust, with the economy expanding by 6 percent in the second quarter. Inflation is currently considered controlled, remaining at moderate levels. Market participants are also closely monitoring upcoming United States economic indicators, specifically non-farm payroll (NFP) data and ISM reports, which are expected to influence US interest rate prospects and the strength of the US dollar.