OPR hike painful but necessary to save consumers
KUCHING: Bank Negara Malaysia (BNM) has raised the Overnight Policy Rate (OPR) to address inflation concerns, contradicting claims that higher OPR would increase the cost of living. Centre for Market Education (CME) economist Dr. Carmelo Ferlito explained that inflation occurs when the quantity of money in circulation grows faster than the output (Gross Domestic Product). […]
Asian markets rise as Fed eases fears over huge rate hike
HONG KONG: Asian markets rallied Thursday following a Wall Street surge after the Federal Reserve played down chances of a huge interest rate hike in the near future, while oil extended gains as the European Union moved to ban imports from Russia. US central bank officials announced an expected half-point lift in borrowing costs — […]
