BNM set to raise policy rate again
KUALA LUMPUR: Bank Negara Malaysia (BNM) is expected to lift its Overnight Policy Rate (OPR) by 25 basis points (bps) to 2.25 per cent at its fourth Monetary Policy Meeting (MPC) of the year scheduled for this week, according to Moody’s Analytics. In its report today, the research firm also noted that the country’s central […]
Malaysia, Singapore positioned to gain from global growth in 2022
KUALA LUMPUR: Malaysia and Singapore are positioned to gain from global growth in 2022, said Moody’s Analytics. It said both countries have been cautious in opening their borders to travellers despite being among the most aggressive with fiscal policy support for their economies over the past year. “Malaysia is in the midst of an emergency […]
APAC to lead economic recovery post Covid-19 recession
KUALA LUMPUR: The Asia-Pacific (APAC) region’s economic recovery will take the lead from the rest of the world as it recovers from the Covid-19 recession. Moody’s Analytics chief APAC economist Steve Cochrane said this is after much of the region will have regained all of its lost output by the end of 2021, although India […]
Pressure keeps rising for Apac companies as coronavirus impact becomes clearer
KUALA LUMPUR: Moody’s Investors Service said about 22 per cent of 476 rated non-financial companies in Asia Pacific (Apac) have high exposure to coronavirus disruptions, up from 20 per cent in March, as the effects of the pandemic on companies’ credit quality have become more apparent. “Airlines, automakers and auto part suppliers, casinos, discretionary retail, and hospitality companies […]
Moody’s reduces near-term oil price assumptions
KUALA LUMPUR: Moody´s Investors Service is reducing its near-term oil price assumptions for West Texas Intermediate (WTI) and Brent as a deeper economic recession in the United States and other leading economies further reduces demand for oil products before an economic recovery in 2021. Moody’s vice president — senior credit officer Elena Nadtotchi said exceptionally […]
Default rates to rise due to recessions
KUALA LUMPUR: Moody’s Investors Service expects the global default rate to rise to 10.6 per cent at end-2020 and edge higher to 11.3 per cent by end-March 2021 compared with the March 2020 level of 3.5 per cent. It said the forecast is underpinned by the expectation of recessions in many large economies, following the unprecedented turmoil in the financial […]
Global oil majors have strong liquidity, market access to weather storm
KUALA LUMPUR: Global oil majors have strong liquidity and market access to help them in weathering the current storm, according to Moody’s Investors Service. It said, oil majors proved resilient to the extreme price volatility during the last oil price crash and have announced similar measures to protect their cash flows during the current crisis. “Most […]
Covid-19, oil price shock to lower sovereigns’ economic, fiscal strength
KUALA LUMPUR: The Covid-19 outbreak and the related oil price shock will lower sovereigns’ economic and fiscal strength, increase weaker sovereigns’ vulnerability to shifts in sentiment and expose weaknesses in domestic and international institutions, says Moody’s Investors Service. In a report on Friday, the rating agency said as with other sectors, it will adjust ratings to reflect […]
