Hottest Online News Portal

Financial Markets Well Positioned To Face Any Major Volatility From Brexit Fallout, Says BNM

in Latest/Slider

KUALA LUMPUR: Malaysia’s financial markets are well positioned to face any major volatility over Britain’s referendum on its membership in the European Union (EU), Bank Negara Malaysia said.

The central bank said on Thursday the Financial Market Committee, of which it is a member, was monitoring and would remain vigilant to any potential emerging risks and challenges to the domestic financial markets.

BNM said the committee also cautioned the impact and volatility could spill over onto the financial markets.

“It should be emphasised that liquidity in the domestic market remain ample and our financial markets are well positioned to face any major volatility.

“Financial market players stand ready to support the orderly functioning and smooth intermediation in the financial markets,” it said.

The results from the referendum over whether Britain should exit (Brexit) or remain in the EU are expected at between 2pm and 4pm Malaysia time on Friday.

BNM said committee’s members would continue to provide the liquidity to the financial markets as required.

It added market players would operating hours early on Friday and trading would be extended to 6pm to facilitate market transactions for all market participants.

The committee comprises of participants/representatives from BNM, financial institutions, corporations, financial service providers and other institutions or stakeholders which has prominent role or participation in the financial markets.

Tags:

Latest from Latest

Go to Top