Tan Sri Nor Shamsiah Mohd Yunus said there were no figures to support such an allegation.
She said there are no figures to support such an allegation, adding that as a matter of fact, on aggregate, households have continued to hold financial assets in excess of debt which have enabled them to manage higher borrowing costs."I wish to stress that it is not true that the OPR increase caused a rise in bankruptcies.
BNM at its monetary policy committee meeting on May 3, 2023 increased OPR by 25 basis points to 3.00 per cent. Accordingly, the ceiling and floor rates of the corridor of the OPR was increased to 3.25 per cent and 2.75 per cent, respectively. "At the current OPR level of 3.00 per cent, the monetary policy stance is slightly accommodative and remains supportive of the economy,” she said.
Ultimately, she said, the goal of monetary policy is to achieve sustainable economic growth over a longer term.Stressing that this is not true, she said the decision would help to ensure that the country continues to grow sustainably.Meanwhile, Nor Shamsiah said the domestic financial market remains orderly despite concerns that the global economy output could moderate.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
BNM governor denies rise in OPR causes bankruptciesKUALA LUMPUR: Bank Negara Malaysia (BNM) governor Tan Sri Nor Shamsiah Mohd Yunus has denied that the increase in the overnight policy rate (OPR) has ...
Read more »
Azam Baki reappointed MACC chief for another yearPETALING JAYA: Tan Sri Azam Baki has been reappointed as Malaysian Anti-Corruption Commission (MACC) chief commissioner effective May 12, says Chief Secretary to the Government Tan Sri Mohd Zuki Ali.
Read more »
Stok minyak sawit Malaysia susut 10.54% | The Malaysian InsightStok minyak sawit diproses merosot 15.11% kepada 782,061 tan berbanding 663,858 tan sebelum ini.
Read more »
OPR naik lagi, bank untung tapi rakyat catu beli berasJangan sampai nanti kadar bunuh diri meningkat disebabkan tekanan hidup ataupun ramai terjerat dengan along.
Read more »
Bank Negara governor denies OPR hike caused bankruptcies | The Malaysian InsightHouseholds continue to hold financial assets in excess of debt, Nor Shamsiah says.
Read more »