Bank Negara authorised to decide on OPR without govt interference, says Rafizi
He says the economy and domestic trade and cost of living ministries will meanwhile carry out their tasks to reduce the effects of inflation.
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Bank Negara Malaysia (BNM) has the authority to decide on the overnight policy rate (OPR) itself without the interference of the government, Economy Minister Rafizi Ramli says.
He said the right and power of BNM needed to be fully implemented while the government through the economy ministry and the domestic trade and cost of living ministry would carry out their tasks to reduce the effects of inflation.
"We (the government) take a different approach for us to check and balance and not to interfere in the affairs of BNM.
"Each carries out its own duty," he said at a press conference in Putrajaya yesterday.
BNM’s monetary policy committee in its meeting yesterday announced that it was maintaining the OPR at 2.75%.
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