Bank Negara governor Zeti Akhtar Aziz ended speculation that she was on the way out of the central bank today, saying that she fully intends to remain at the helm until the end of her term of office.
Despite rumours that she would step down or even be terminated over the ongoing investigations on sovereign development fund 1Malaysia Development Verhad (1MDB), Zeti insisted that she was going to lead Bank Negara at least until her appointment ends in April 2016.
“I will certainly remain in office till my term ends. That’s five years and it ends next year,” she said today, as quoted by The Malay Mail Online.
On the matter of the freefalling Ringgit, Zeti said that Bank Negara saw no need to peg the national currency to the US Dollar as it once did in 1998.
“I want to emphasise that we do not want to peg the currency,” she said to Reuters‘ Al-Zaquan Amer Hamzah.
“We’ve moved on from capital controls.”
The RM has been battered this year, falling some 12.32% in relation to the USD, making it one of Asia’s worst performing currencies.
