KUALA LUMPUR, Aug 8 — The Ministry of Finance is monitoring the effects of the increase in the Overnight Policy Rate on the amount of consumer loan repayments.
“When the economic indicators are showing positive signs such as the unemployment rate decreasing and foreign direct investment increasing, it is timely for BNM to increase the OPR. As per the procedure of the meeting, Sen Nuridah had submitted question five to the Finance Minister regarding the expected duration of the country’s economy being in an inflationary situation and to what extent is it true about the country’s economy heading towards ‘hyperinflation’.
He said the move has helped ensure the inflation rate in Malaysia for June this year was at a moderate level compared to other countries. The inflation rate recorded 3.4 per cent in June, driven by the group of food and non-alcoholic beverages , transportation and restaurants and hotels .