Mukhriz Mahathir, the 48-year-old son of Malaysia’s longest-serving prime minister, will tomorrow contest the vice presidency of the nation’s biggest political party, staking his claim as a potential future national leader.
The Bank of Thailand said risks to financial stability, including high levels of household debt, have reduced the scope for further monetary easing, even as it cut its growth forecast for the second time this year.
Malaysia’s ringgit is poised to rebound from a three-year low as the economy’s resilience damps concern rising U.S. Treasury yields will prompt overseas investors to dump the nation’s bonds, trading patterns show.
Investors may profit from receiving Thailand’s one-year non-deliverable forward swap starting in 12 months because the rate overestimates the potential increase in local borrowing costs, Barclays Capital Plc said.
Bank of Thailand Governor Prasarn Trairatvorakul said existing measures to curb volatility in the baht are appropriate, though he didn’t rule out using additional tools if the currency’s appreciation accelerates.
Malaysia Prime Minister Najib Razak said stocks and the ringgit would plunge if he loses next month’s election, contrasting his government’s pursuit of stable change with the upheaval that has engulfed the Middle East.