(MENAFN) The Malaysian central bank is stepping up efforts to achieve a boost in market liquidity before FTSE Russell reached a decision on retaining ringgit bonds.
Bank Negara Malaysia confirmed that more flexibility will be granted to businesses along with providing quote off-the-run bonds for principal dealers to deepen local markets.
Those new steps also include the central bank enhancing ringgit accessibility after onshore trading hours through Appointed Overseas Offices.
Vishnu Varathan, head of economics and strategy at Singapore's Mizuho Bank Ltd, stated: "the measures are very comprehensive and go a long way in addressing concerns about the ability to hedge effectively and about liquidity."
"Could FTSE Russell still put up a 'wish list' of more unfettered access? Sure. But are there justifiable grounds to remove Malaysia? Surely not," Varathan added.
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