KUALA LUMPUR: Rating agency Standard & Poor's affirmed Malaysia's A- sovereign rating today based on its strong external position and monetary policy flexibility. It also said the ongoing corruption allegations of 1Malaysia Development Bhd (1MDB) will not affect current policy flexibility and responsiveness. "Malaysia's strong external position, a result of many years of substantial current account surpluses, underpins the ratings." A weaker ringgit should support the competitiveness of Malaysia's manufactured goods, partially offsetting the impact of depressed energy prices. It praised Bank Negara Malaysia saying its track record in controlling inflation, indicating strong monetary flexibility helps absorb major economic shocks."

Source: New Strait Times November 07, 2016 11:55 UTC