KUALA LUMPUR: The decision by Bank Negara Malaysia (BNM) to gradually adjust the overnight policy rate (OPR) is aimed at ensuring that it will remain at a reasonable level and is according to macroeconomic conditions, says Datuk Seri Anwar Ibrahim.
The Prime Minister stressed that the move was not meant to benefit any party and was not part of the Monetary Policy Committee’s deliberations.
“The move is important to ensure that the OPR is at a reasonable level and according to macroeconomic conditions. Anwar noted that when the country’s economy faced some challenges due to Covid-19, the OPR was reduced from 3% to 1.75% in 2020, the lowest in the country’s history. Anwar added that the macroeconomic policy had to be reviewed so that the country did not experience pressure in terms of unsustainable economic growth and extreme price pressure, especially in the future due to inappropriate policies.
However, he said inflation was still high as domestic demand remained strong in a more robust economic situation.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Jacky Cheung To Hold 6 Shows In Kuala Lumpur; Concert Details & Seating Plan Unveiled - Hype MYIt's official, Jacky Cheung (张学友) has finally announced the details of his upcoming Malaysian concert. This time around, the legendary Hong Kong singer will
Read more »
Illegal mining of rare earths uncovered in Kuala PilahInvestigations are being carried out by the Negeri Sembilan lands and mines department and other relevant agencies.
Read more »
Local Govt Ministry preparing circular on EV charging stations in residential areas, says ministerKUALA LUMPUR, May 24 — The Local Government Development Ministry is currently drawing up a circular for electric vehicle (EV) charging stations to be placed in residential areas...
Read more »