THE Federal Government has risen to the occasion in the way it is handling the Covid-19 pandemic. Malaysians have been fortunate in having a consummate professional leading the healthcare front and a seasoned banking sector technocrat spearheading the financial management of the country.
Amid this, we have the central bank whose actions appear to be limited to announcing rudimentary monetary policy measures, the latest being the lowering of the overnight policy rate to its lowest level (since 2009) of 2%. Bank Negara Malaysia appears to be lost in the woods given the barrage of criticisms it has received on the issue of loan moratoriums and who should bear the accrued interest pursuant to these and loans linked to credit cards. Surely some “out-of-the-box” thinking would not be out of place here given the quandary many people are in.
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