# Ringgit Remains Competitive, Inflation In Check Despite Headwinds From Global Geopolitical Tensions And Uncertainties

> Malaysia's Ministry of Finance said the ringgit remains competitive and inflation is contained despite geopolitical headwinds. It cited IMF cuts to 2022 and 2023 global growth to 3.6% and warned of a historic bond sell-off driven by expected aggressive US Fed tightening.

- Date: 2022-04-23 · published 2022-04-23T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/42098-ringgit-remains-competitive-inflation-in-check-despite-headwinds-from-global
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

A weaker ringgit against the dollar makes Malaysian palm oil and other imports priced in dollars cheaper for ringgit buyers, supporting palm oil demand from Malaysian processors while global growth downgrades weigh on commodity demand.

## Read by commodity

- USDMYR: bullish ▲
- PALMOIL: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2018-10-12 | [Ringgit softness persists on risk aversion action on global uncertainties](https://feedsoft.ai/events/62790-ringgit-softness-persists-on-risk-aversion-action-on-global-uncertainties.md) | +1.8% | -4.2% |
| PALMOIL | 2023-02-22 | [The Ringgit Supported By Global Sentiment, Domestic Political Stability, U.S. Dollar Moderation, Says Deputy Finance Minister](https://feedsoft.ai/events/37605-the-ringgit-supported-by-global-sentiment-domestic-political-stability-u-s.md) | +0.2% | -3.6% |
| PALMOIL | 2022-11-30 | [Ringgit ends higher against US dollar on positive China sentiment \| Malay Mail](https://feedsoft.ai/events/38930-ringgit-ends-higher-against-us-dollar-on-positive-china-sentiment-malay-mail.md) | +3.7% | -0.4% |
| PALMOIL | 2019-06-10 | [Ringgit buoyed by external trade and anticipation of Fed rate cut](https://feedsoft.ai/events/58861-ringgit-buoyed-by-external-trade-and-anticipation-of-fed-rate-cut.md) | -1.1% | -3.6% |
| PALMOIL | 2017-06-30 | [Continued non-resident inflow leads to Ringgit's appreciation: BNM - The Malaysian Reserve](https://feedsoft.ai/events/70758-continued-non-resident-inflow-leads-to-ringgit-s-appreciation-bnm-the-malaysian.md) | +2.7% | +4.0% |

## Sources

- mof.gov.my: https://www.mof.gov.my/portal/en/news/press-release/ringgit-remains-competitive-inflation-in-check-despite-headwinds-from-global-geopolitical-tensions-and-uncertainties

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.