Carian mengenai topik us-federal-reserve

US Federal Reserve chair Jerome Powell said the central bank will not wait until inflation hits two per cent to cut interest rates.

Investors focused on the US Federal Reserve's semi-annual testimony to assess the US economic growth and monetary policy paths.

A chief economist Dr Mohd Afzanizam Abdul Rashid said the ringgit is expected to move in a narrow range today.

Its stronger performance driven by higher dividends and distributions from investee companies, fair value gains and capital preservation.

The US Federal Reserve on Wednesday left interest rates unchanged at a 22-year high of 5.25-5.5 per cent, as yields on long-term US Treasury bonds have spiked in recent months, reported Xinhua.

The ringgit continued its positive momentum this morning to open slightly higher against the greenback on the expectation of a US Federal Reserve downshift to a 25 basis points interest rate hike.

Higher interest rates will stay in place until the US Federal Reserve is confident that surging inflation is on a path toward stability, according to a Fed meeting summary released this week.

The ringgit was traded mostly lower against a basket of major currencies this morning.

Diniz said that investors are beginning to wonder when the US Federal Reserve will change its monetary policy on interest rates.

At 9.05 am, the benchmark FTSE Bursa Malaysia KLCI rose by 4.08 points to 1,492.88 from yesterday's closing of 1,488.80.

At 9 am, the local note rose to 4.5050/5100 against the US dollar from yesterday's close of 4.5060/5130.

Nor Shamsiah said year-to-date, the ringgit has depreciated by 11.2 per cent against the greenback, in line with regional trends.

At 9.18 am, the local currency rose to 4.4550/4600 versus the greenback from Tuesday's close of 4.4570/4585

The rising US jobless claims, weaker housing sales and slightly lower US bond yields, ultimately favoured the ringgit.

Mohd Afzanizam said talks of a possible global recession are gaining momentum.