Wait For Outcome Of Monetary Policy Meeting, Says Dr Zeti

By Ahmad Farizal Hajat

KUALA LUMPUR, July 8 (Bernama) -- "You have to wait and see," that's what Bank Negara Governor Tan Sri Dr Zeti Akhtar Aziz said when asked to comment on whether there would be adjustments to the overnight policy rate (OPR) at its next monetary policy meeting.

Many analysts expect some adjustments to the OPR to cushion the economy against inflationary pressures in view of the increase in petrol and diesel prices recently.

Some local financial institutions have also raised their lending rates, adding speculation to possible adjustments.

Dr Zeti was responding to reporters on the sidelines of the 6th Group of Eight Developing Islamic Countries (D-8) Summit here today.

The central bank's policy meeting is scheduled for later this month.

The OPR was kept unchanged at 3.5 percent at its last meeting.

Inflation, as measured by the consumer price index, was at a 22-month high at 3.8 percent year-on-year in May.


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