tags - Sinar Daily

Ringgit opens higher against US dollar on risk-on mode. Illustration photo - 123RF

Arman arranging a few canned goods at the store.

Deputy Vice-Chancellor for Research and Graduate Studies from i-CATS University College Kuching, Professor Datuk Shazali Abu Mansor says Bank Negara's move to increase OPR could cause a dip in the economy.

Acute shortages of food and fuel, alongside lengthy electricity blackouts, have led to months of widespread anti-government demonstrations calling for President Gotabaya Rajapaksa's resignation.

Affin Bank says this follows Bank Negara Malaysia's (BNM) announcement to increase the overnight policy rate (OPR) to 2.25 per cent from 2.00 per cent today.  Awani pic

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

In May of last year, Bank Negara Malaysia increased the overnight policy rate (OPR) from 1.75 percent to 2 percent or by 25 basis points. The central bank is expected to increase the OPR by another 25 basis points to 2.25 percent.

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

Jafry while attending a dialogue session with TTS, Sutera Sanctuary Lodge, Mountain Torq, Mountain Malim Association and Mount Kinabalu Porter Association in Kinabalu Park Office, Kundasang, Ranau.

Flashmob protesters organising a peaceful gathering over price hike