US Federal Reserve Rate Cuts Expected to Support Malaysian Bond Market and Ringgit
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The US Federal Reserve's decision to pause rate cuts for a fifth consecutive time is expected to support the Malaysian bond market and the ringgit, according to Opus Asset Management. The asset management firm, which oversees mainly fixed-income investments worth around RM7.6 billion, believes that the potential start of rate cuts by the Fed will be beneficial for Malaysia. While the Fed has maintained the current Fed funds rate (FFR) at 5.25% to 5.5%, it continues to signal multiple cuts before the end of the year. Opus Asset Management predicts that the Fed will keep rates higher for longer and implement 50-100 basis point cuts in the second half of 2024. However, the impact of tight labor market conditions in the US may influence the Fed's rate cuts and its inflation rate targeting poli...
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