Friday, March 11, 2016

We didn’t get the ratings we deserved, says Zeti

​Bank Negara Malaysia (BNM) was among the first central banks to diversify its foreign reserves into instruments from within the Asean region, but it was an effort that ratings agencies failed to recognise, governor Tan Sri Dr Zeti Akhtar Aziz said today. "Bank Negara was one of the first central banks to diversify its reserves into instruments from this region because we felt we knew this region although ratings agencies didn't give us the ratings we felt we deserved," she said at the Wharton Global Forum 2016. She said Bank Negara, through its own monitoring and surveillance, felt that Asean was where it should diversify reserves. "And this not only reduces our vulnerability to external developments but it will contribute towards achieving more stable conditions in the regional financial markets," she said. – Bernama, March 11, 2016.]]>

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