What's going on with Ringgit? BNM explains...

Ongoing developments in global financial markets have weighed down on market sentiment. These include the US debt ceiling impasse and episodes of stress in the US and European banking sectors.

This has led to an increase in demand for safe-haven assets such as the US dollar and outflows from most emerging market economies as investors seek to protect their investments. 💟

Against this backdrop, the US dollar has strengthened against most currencies.

OPR Hikes have caused Financial Hardship for Borrowers?

There were noises from the general public and politicians questioning the recent BNM's OPR hike. Deemed as a surprise hike in the OPR, some quarters said that this has caused unnecessary financial hardship to borrowers, particularly individuals and small and medium-sized enterprises (SMEs).

So, do OPR hikes have really caused financial hardship for borrowers?

Below is the answer provided by BNM:

OPR Hike will Affect Economic Growth?

Monetary policy decisions affect many facets of a nation’s economy. As such, it is often the case that such decisions are closely watched and debated not just by financial markets, but also by the general public.

The lively conversations around the BNM Monetary Policy Committee’s (MPC) decision to raise the OPR by 25 basis points on 3 May exemplify this fact.

Deciding on the OPR isn’t something BNM takes lightly. There are many factors that the MPC considers. BNM's analysis is based on a broad range of forward-looking data and engagement with various industries and consumers.

So, would OPR hike affect our economic growth?

Below is the answer provided by BNM:

Huobi Global is Operating Illegally in Malaysia

The Securities Commission Malaysia (SC) has taken action against Huobi Global Limited, and its Chief Executive Officer Leon Li for operating a digital asset exchange (DAX) in Malaysia without registration.

Accordingly, the SC has issued a public reprimand against Huobi Global Limited, and Leon Li for operating illegally in Malaysia.

10 Financial Lessons You Could Have Learned from Your Mother

As we grow older, we tend to look back on our childhood and reflect on the lessons we learned from our parents. While we may remember the rules about finishing our vegetables or cleaning our rooms, we often overlook the financial lessons that were imparted to us.

Mothers, in particular, are often the ones who take charge of the household budget and teach their children about money management.

In this blog post, we will explore 10 financial lessons that you could have learned from your mother. These lessons are simple yet effective, and they can help you make better financial decisions that will benefit you for years to come.

From saving money to investing wisely, these lessons will equip you with the knowledge you need to achieve your financial goals. Whether you are just starting out in your career or you are a seasoned professional, these lessons are relevant to everyone.

So, let's take a moment to reflect on the wise advice that our mothers gave us and see how we can apply it to our financial lives today.

Here are potentially 10 of the best financial lessons given by a mother (or, your mother 👄):

Interest Rate Hike in Malaysia: Who Wins and Who Loses?

As the global economy continues to reel from the impact of the COVID-19 pandemic, Malaysia's central bank recently announced a surprise interest rate hike. This move, aimed at curbing inflation and stabilizing the currency, has left many wondering who will benefit and who will suffer as a result.

The interest rate hike will undoubtedly have far-reaching implications across various sectors of the Malaysian economy, affecting individuals, businesses, and investors alike.

While some may view this decision as a positive sign of economic recovery, others may worry about the potential negative repercussions. As such, it's important to take a closer look at the potential winners and losers in light of this recent development.

This blog post will examine the impact of the interest rate hike in Malaysia and the effects on different industries, such as banking, real estate, and consumer goods, and the impact on the average Malaysian citizen.

Bank Negara Malaysia's interest rate hike has winners and losers, and they can be summarized as follows: