Anwar dismisses calls to raise borrowing costs

“We will only raise it (OPR) when the economy demands it. Right now there is no need for that," said Anwar. — Bloomberg

KUALA LUMPUR: Datuk Seri Anwar Ibrahim sees no need to boost borrowing costs to support the local currency, and the solution to the weaker ringgit is to decouple from the US dollar.

Economic indicators such as inflation and unemployment are down, while investment is up, making it hard to justify a rate hike that can hurt small businesses, according to the Prime Minister.