[SINGAPORE] The odds that Malaysia's central bank will increase borrowing costs at least once more this year are providing Asia's best carry-trade returns in the ringgit.
Trades in which investors borrow in a country with low interest rates and park funds elsewhere seeking higher yields climbed 2.8 per cent in Malaysia in the past three months, exceeding the 2 per cent gain for the Philippine peso and 1.6 per cent for China's yuan, Bloomberg data show.
Barclays plc and Bank of America Merrill Lynch (BOAML) are predicting one more rate rise this year of 25 basis points.
Interest-rate swaps have advanced to 3.70 per cent since Bank Negara Malaysia (BNM) raised it benchmark rate for the first time...
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