Ringgit firmer on Fed's pledge to be patient on rate hike

Kuala Lumpur

MALAYSIA'S ringgit rose along with Asian stocks and bonds on Wednesday after the Federal Reserve signalled the first interest-rate increase since 2006 is more likely to come in the second half of the year.

The US central bank's pledge to be "patient" on beginning to raise the benchmark rate means an increase is unlikely for "at least the next couple" of meetings, Fed chair Janet Yellen told the Senate Banking Committee on Tuesday.