KUALA LUMPUR, May 12 ― DAP’s Lim Guan Eng has today labelled Bank Negara Malaysia’s recent announcement on the overnight policy rate hike as “unhelpful” in boosting business confidence in Malaysia.
“Apart from borrowers, the economy may also suffer with a higher interest rate affecting economic growth already affected by global uncertainties of a US-led global recession. Just two days before the announcement, Lim had called for BNM to maintain its OPR at the current 2.75 per cent as a hike could potentially cause small businesses to close and cause unemployment.