Central bank seen to raise rates this year

According to HSBC Group Asian economics research co-head Frederic Neumann, Bank Negara could raise its overnight policy rate (OPR) by 50 basis points (bps) this year on the back of stronger domestic demand and strong export numbers, as the world economy recovers from the impact of the Covid-19 pandemic.

PETALING JAYA: Bank Negara is likely to raise interest rates this year following in the footsteps of the United States Federal Reserve, which plans to raise rates by three to four times in 2022 to fight inflation.

According to HSBC Group Asian economics research co-head Frederic Neumann, Bank Negara could raise its overnight policy rate (OPR) by 50 basis points (bps) this year on the back of stronger domestic demand and strong export numbers, as the world economy recovers from the impact of the Covid-19 pandemic.