tags - Sinar Daily

At 9am, the local currency edged up to 4.4350/4390 versus the greenback from Wednesday's close of 4.4360/4385.

Veteran US investor Jim Rogers says recession may have already arrived considering the soaring inflation and high-interest rates.Pic sourced from marketwatch

BNM is expected to increase the Overnight Policy Rate OPR by another 25 basis points this year, likely in the next Monetary Policy Committee (MPC) meeting on Sept 8, said OCBC Bank.

Setiawangsa MP Nik Nazmi Nik Ahmad says the government has the responsibility to help the rakyat deal with rising cost of living.

Annuar at a press conference after chairing the Special Task Force on Jihad Against Inflation meeting, here today. Photo: BERNAMA

The increase in bank interests or Overnight Policy Rate (OPR) in the country is a sign for people to be financially prudent, said experts. - Photo: BERNAMA

Economists said an increase in interest rate is inevitable due to skyrocketing prices of food and goods at the moment which has become the main bone of contention among Malaysians. - Photo: BERNAMA

BNM is expected to lift its Overnight Policy Rate (OPR) by 25 basis points (bps) to 2.25 per cent.

EPF chief executive officer Datuk Seri Amir Hamzah Azizan says the fund had a strong start in the earliest part of the first quarter, but the situation took a turn as global markets suffered a decline, causing lower returns in bonds and equities throughout the remaining quarter.

Moody’s Analytics says runaway inflation or decrease in value of money and increase in cost of living are at the heart of monetary tightening moves, while Russia’s invasion of Ukraine is smashing the global economy’s already snarled supply chains.