Rate hikes to affect personal consumption growth

TA Research said the OPR could see an additional boost of 50 bps from the central bank this year and it might affect the personal consumption performance this year.

PETALING JAYA: Personal consumption growth, an important indicator of the strength of the economy, may slow down this year with more interest rate hikes in the offing.

Bank Negara had raised its overnight policy rate (OPR) by 100 basis points (bps) last year to 2.75% in a bid to tame inflationary pressures and in line with other global central banks.