IDEAS home Printed from https://ideas.repec.org/a/nsr/niesrb/i16y202453-63.html
   My bibliography  Save this article

Box C: Global Ripples: Fed's Monetary Moves and their Impact on Emerging Economies

Author

Listed:
  • Turalay Kenc

Abstract

The US Federal Reserve's (Fed), signal of an impending rate cut cycle has on 31 July 2024 led to a notable appreciation of several emerging market (EM) currencies, with the Malaysian ringgit (MYR) standing out. As of October 15, 2024, the ringgit has strengthened by approximately 8 per cent against the US dollar (figure C1). This trend followed the Fed's earlier signal and its subsequent decision to lower its key overnight borrowing rate by 50 basis points (bps) to a range of 4.75 per cent to 5 per cent, marking the start of a rate-cut cycle with wide-reaching effects across various EM currencies.

Suggested Citation

  • Turalay Kenc, 2024. "Box C: Global Ripples: Fed's Monetary Moves and their Impact on Emerging Economies," National Institute Global Economic Outlook, National Institute of Economic and Social Research, issue 16, pages 53-63.
  • Handle: RePEc:nsr:niesrb:i:16:y:2024:53-63
    as

    Download full text from publisher

    File URL: https://www.niesr.ac.uk/publication-type/global-economic-outlook
    Download Restriction: Subscription required to access full text, see https://www.niesr.ac.uk/subscribe-national-institute-global-economic-outlook
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:nsr:niesrb:i:16:y:2024:53-63. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Library & Information Manager (email available below). General contact details of provider: https://edirc.repec.org/data/niesruk.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.