Bank Negara Malaysia set to manage market volatility, monitoring US election

MALAYSIA’S central bank, Bank Negara Malaysia (BNM), is closely monitoring the U.S presidential election and was prepared to manage market volatility and ensure orderly market conditions, it told Reuters late on Tuesday (Nov 5).

“Bank Negara Malaysia closely monitors global developments, including the US elections, that could affect the financial markets,” it said in an emailed statement to Reuters.

“Malaysia’s highly diversified economic and trade structure, along with its strong fundamentals and positive growth prospects, will provide ample buffers to navigate external uncertainties,” the bank said.

The US heads to the polls to elect either Republican Donald Trump or Democrat Kamala Harris as the next president, two candidates with sharply different visions for the world’s largest economy. REUTERS