tags - Sinar Daily

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.

A check found that some of the Malaysian pilgrims' tents in Arafah were left in a much cleaner state than before their arrival, and some pilgrims even came together to help tidy up the mattresses, blankets and pillows before leaving for Muzdalifah. Photo: BERNAMA

The weakness of the Ringgit increased the prices of goods, especially food, whose supply chain depends on imported materials. Illustration photo. Source: 123RF

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.

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

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

The increase comes amid surge in food prices

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