tags - Sinar Daily

This image taken from video provided by witness Toshiharu Otani and released via Jiji Press shows former Japanese prime minister Shinzo Abe (C) attending an election campaign before giving a speech at Kintetsu Yamato-Saidaiji station square in Nara, while a man (2nd R-behind) suspected of shooting Abe shortly after stands in the background on July 8, 2022. (Photo by Toshiharu Otani / JIJI PRESS / AFP)

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.

The analysis of 159 developing countries showed that rising commodity prices are already having immediate and devastating impacts on the poorest households, with clear hotspots in the Balkans, countries in the Caspian Sea region, and Sub-Saharan Africa.

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