KUALA LUMPUR: The ringgit is expected to trade sideways with an upside bias next week, reflecting a cautious but optimistic market sentiment, ahead of the Bank Negara Malaysia (BNM) Monetary Policy Committee meeting scheduled on Sept 4, said an economist.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said BNM is likely to maintain the overnight policy rate (OPR) at 2.75 per cent.
"BNM has delivered a pre-emptive cut in OPR and I suppose the degree of monetary policy accommodation is sufficient to support the growth.
"More importantly, markets would want to see the latest assessment by the central bank with regard to the current state of the economy and its prospects,” he told Bernama.
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