Bank Negara Urged Not To Increase Interest Rate In September


 



Bank Negara is urged to stop increasing its interest rate in September to prevent adding to the burden on loan borrowers.
To sustain robust economic growth, DAP national chairperson Lim Guan Eng said Bank Negara should stop hiking interest rates, which have increasingly burdened businesses and housing loan borrowers.
He said despite the country’s GDP growing for the first half of 2022 by 6.9 percent, this is not reflected in the performance of Bursa Malaysia and in the value of the ringgit.
"The ringgit continues to decline against the Singapore dollar falling to the lowest value on record of RM3.25 on Aug 11, falling to a five-year low to the US dollar at RM4.46, and has even weakened against the Indonesian rupiah.
"Despite high oil and palm oil prices, the ringgit continues to depreciate when it should be strengthening.
"Bank Negara’s increase in interest rates by 50 basis points has no discernible effect. The weak ringgit has wreaked havoc for businessmen with rising prices for imported materials," said Lim in a statement.
EPF special withdrawal
The former finance minister also expressed concern about whether the second quarter economic growth is too reliant on firm domestic demand, particularly the RM44 billion one-off EPF special withdrawals.
He said since there will be no more RM44 billion one-off EPF special withdrawals in the pipeline, the country’s economic growth will depend on external demand, which is subject to slower global growth.
Former finance minister Lim Guan Eng"Whilst the government continues to express optimism that Malaysia can achieve the 2022 projected economic growth of up to 6.3 percent, this sentiment is not shared by the International Monetary Fund which lowered its growth target of Malaysia to at best 5.6 percent for 2022," said Lim.
According to Kenanga Research (Kenanga), Bank Negara is likely to maintain its hawkish stance in September and increase the overnight policy rate (OPR) for the third consecutive time this year.
In a note earlier this week, the research house believed the OPR hike would be based on the expectation that Malaysia's inflation rate would average above the 4.0 percent level in the second half of 2022 (2H22) due to rising food prices amidst swelling import costs.
“In an effort to realign with other central banks’ hawkish stance, we reckon that Bank Negara may continue to tighten post-September meeting, with the OPR reaching 3.0 per cent by the first quarter of 2023 (1Q23),” it said in a Bernama report.
Umno Youth chief Asyraf Wajdi DusukiMore bankruptcy
Similarly, Umno Youth chief Asyraf Wajdi Dusuki also urged Bank Negara not to increase the OPR which he said doesn't help counter the inflation.
"With the increase of OPR, as in conventional monetary theory, Bank Negara is hoping that the business sector will reduce investment and household sector will reduce expenditure while increasing saving rate.
"However, with the current high rate of our household sector debts, an increase of interest rate will only reduce household expenditure via increase paying back of loans, but not through the increase of saving rate.
"The increase of inflation rate was not because of excess in demand, but due to problems related to supply-side disruption and energy supply shock because of Ukraine war, therefore increase of OPR will not succeed in reducing inflation rate," Asyraf said.
He added that in the national economic situation that is not fully recovered, the additional financial burden from the increase of OPR may have a big possibility of dragging more people into insolvency. - Mkini


Artikel ini hanyalah simpanan cache dari url asal penulis yang berkebarangkalian sudah terlalu lama atau sudah dibuang :

http://malaysiansmustknowthetruth.blogspot.com/2022/08/blog-post_13.html

Kempen Promosi dan Iklan
Kami memerlukan jasa baik anda untuk menyokong kempen pengiklanan dalam website kami. Serba sedikit anda telah membantu kami untuk mengekalkan servis percuma aggregating ini kepada semua.

Anda juga boleh memberikan sumbangan anda kepada kami dengan menghubungi kami di sini
Hisham Urged To Explain Lcs Contractor S Finances In Dewan Negara

Hisham Urged To Explain Lcs Contractor S Finances In Dewan Negara

papar berkaitan - pada 11/8/2022 - jumlah : 196 hits
Former defence minister Mohamad Sabu and his then deputy Liew Chin Tong want an explanation of the finances of Boustead Naval Shipyard Sdn Bhd the main contractor of the RM9 billion Littoral Combat Ship project The duo who helmed the Defenc...
Melawat Muzium Galeri Seni Bank Negara Malaysia

Melawat Muzium Galeri Seni Bank Negara Malaysia

papar berkaitan - pada 8/8/2022 - jumlah : 437 hits
Salam to all readers Melawat Muzium Galeri Seni Bank Negara Malaysia Hari yang sama aku pergi makan Pak John Steamboat BBQ dengan Elly dengan laki dia Alep kiteorang sambung jalan jalan ke Galeri Seni Bank Negara Malaysia pula Bak kata Elly...
Interest Rate Asb Loan Menggunakan Sbr Bukan Lagi Br

Interest Rate Asb Loan Menggunakan Sbr Bukan Lagi Br

papar berkaitan - pada 7/8/2022 - jumlah : 246 hits
Tiada lagi BR Sekarang Hanya menggunakan SBR Jika dulu rate ASB adalah BR Namun bermula August 2022 Istilah BR telah diganti dengan SBR atau dalam bahasa Melayunya KAS Samada loan anda Islamic ataupun konvensional sama sahaja akan ditukarka...
E Wallet Tidak Selamat Bank Negara Buat Apa

E Wallet Tidak Selamat Bank Negara Buat Apa

papar berkaitan - pada 19/8/2022 - jumlah : 247 hits
E wallet tidak selamat Bank Negara buat apa Posted By on August 19 2022 Penipuan kewangan atas talian yang semakin berleluasa tidak mengecualikan e dompet sebagai platform transaksi Menurut Pengarah Komunikasi KEADILAN Lee Chean Chung takti...
Pas Wil Not Join Gta Takiyuddin

Pas Wil Not Join Gta Takiyuddin

papar berkaitan - pada 10/8/2022 - jumlah : 347 hits
PAS secretary general Takiyuddin Hassan said his party will not join Gerakan Tanah Air a Malay based political coalition announced by former prime minister Dr Mahathir Mohamad last Thursday Takiyuddin said the establishment of GTA will not ...
Kd Maharajalela Sudah Jadi Besi Tua Someone Tell The Moron You Only Launch A Ship Once Not Twice

Kd Maharajalela Sudah Jadi Besi Tua Someone Tell The Moron You Only Launch A Ship Once Not Twice

papar berkaitan - pada 10/8/2022 - jumlah : 291 hits
At 3700 tons the LCS is actually a corvette a small ship The Egyptians bought the same boat they call it a corvette Even the manufacturer called it a corvette Anyway Super Moron said that the launching of the empty shell LCS in Lumut was th...
Pac Corrects Najib The Lcs Contract Is Rm9 1 Billion Not Rm6 Billion

Pac Corrects Najib The Lcs Contract Is Rm9 1 Billion Not Rm6 Billion

papar berkaitan - pada 10/8/2022 - jumlah : 388 hits
THE Public Accounts Committee has rubbished former prime minister Datuk Seri Najib Abdul Razak s criticism over its recent report on the delay in delivery of six combat ships to the Royal Malaysian Navy In a sarcastic response its chairman ...
Suhakam Commissioner Judge Us On Our Work Not Political Links

Suhakam Commissioner Judge Us On Our Work Not Political Links

papar berkaitan - pada 11/8/2022 - jumlah : 405 hits
The National Human Rights Commission said its new line up of commissioners should be judged on what they do during their time at the commission instead of their past or present political affiliations This comes after civil societies raised ...
We Need Action Not More Debates Says Anwar Over Lcs Scandal

We Need Action Not More Debates Says Anwar Over Lcs Scandal

papar berkaitan - pada 12/8/2022 - jumlah : 258 hits
Not a single ship had been completed although Putrajaya had spent RM6 billion on the LCS project GEORGE TOWN Opposition leader Anwar Ibrahim said there is no need for a special parliamentary sitting to debate the littoral combat ship procur...
From Data To Decisions How Artificial Intelligence Is Transforming Digital Marketing Strategies

Ketua Pengarah Akps Beri Amaran Keras Isu Rasuah Imigresen

Little Black Number A Honda Cb350 Caf Racer From Austria

Wanita Cuci Kereta Guna Alat Cuci Cermin Cetus Rasa Marah Netizen

Kemalangan 15 Motosikal Seorang Lagi Meninggal Dunia

Akaun X Kena Hacked Setel Dalam Masa 8 Jam

Tri Suaka Feat Dodhy Kangen Andai Waktu Bisa Kembali Chord

Drama Epok


echo '';
Info Dan Sinopsis Drama Berepisod Dendam Seorang Madu Slot Tiara Astro Prima

10 Fakta Biodata Amira Othman Yang Digosip Dengan Fattah Amin Penyanyi Lagu Bila Nak Kahwin

5 Tips Macam Mana Nak Ajak Orang Kita Suka Dating Dengan Kita

Info Dan Sinopsis Drama Berepisod Keluarga Itu Slot Lestary TV3

Bolehkah Manusia Transgender Mencapai Klimaks Selepas Bertukar


Rush To Build In Penang High Density Projects Sprouting Without Gazetted Local Plan

Prism Malaysia Melancarkan Luna Eco Penapis Udara Siri Nexa

Bergema Laungan Takbir Dan Doa Perang Mahu Anwar Turun Untuk Naikkan Hamzah Sebagai Pm Ke

Ali Baba And The Filthy Rich Thieves

Bring Me Your Concerns In Parliament Not Just On Streets Says Anwar

More Than Rm2 Million Raised For Tiger Conservation Since 2021