OPR hike or not, we have to manage our finances diligently

KUALA LUMPUR: While the whole nation waits to see if there will be another overnight policy rate (OPR) hike on Jan 19 or whether Bank Negara Malaysia will maintain the current rate until the effects really sink in, the key thought is, can we afford to have the OPR continue its upward climb.

The inflation rate, especially for food, rose by 7.3 per cent in November 2022, a steady month-on-month increase. This resulted in the prices of some items rising by more than 100 per cent last year, leading to an intense discussion on food security.