Page 45 - Fomc News Today

The lighter calendar may help ease the imbalance between demand and supply, as selling pressure in the secondary has weighed significantly on the market tone.

Federal Reserve Bank of Cleveland President Loretta Mester said the risk of a recession in the U.S. economy is increasing, and that it will take several years to return to the central bank’s 2% inflation goal.

KUALA LUMPUR: Cagamas Bhd has successfully priced the RM100 million three-year Islamic Medium Term Notes (IMTNs) to fund the purchase of house financing from the financial system.

KUALA LUMPUR: The ringgit opened flat against the US dollar today on a lack of fresh buying interest, said a dealer.

The ringgit is expected to remain soft against the US dollar this week, driven by bearish outlook on the global economic front, said an analyst.

Monday's massive selloff contributed to investors pulling more out from the mutual fund complex. Exchange-traded funds saw $1 billion of outflows and high-yield investors yanked out $1.7 billion.

KUALA LUMPUR: The ringgit continued to remain strong against the US dollar for the third consecutive day today as the weak greenback sentiment helped to spur appetite for emerging currencies, including the ringgit, dealers said.

Federal Reserve Bank of Kansas City President Esther George said she opposed the Fed’s biggest interest-rate increase in almost three decades because the move, combined with the shrinking of the central bank’s balance sheet, created uncertainty about the outlook.

The Federal Reserve said it would do what is needed to get prices under control, reiterating that price stability is necessary to support a strong labor market and calling its commitment to reining in inflation “unconditional.”

The 75 basis point hike, prompted partly by hotter-than-expected inflation data, is the largest since 1994.