♦ Stronger RM. The recent stronger-than-expected GDP growth has led to expectations of another 25 basis points (bps) hike in the Overnight Policy Rate (OPR) to 3.0% in Bank Negara’s 2 Sep monetary policy announcement (or 100bps for the year). The RM has already moved ahead of expectations, and is currently hovering at RM3.14/US$, up 1.7% over the last month, and up by 7.7% vs. end of 2009.
Market Update : Sensitivity Analysis - The Stronger Ringgit And The Equity Market - 23/08/2010
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