Monetary policy has to reflect state of economy

TheStar Thu, Jan 26, 2023 12:00am - 1 month View Original


Bank Islam Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid

PETALING JAYA: The monetary policy has to reflect the state of the economy and not be static, while Bank Negara’s role must be seen as independent to allow some space to intervene when necessary, says an economist.

Employees Provident Fund (EPF) head of economics and research Mohd Afzanizam Abdul Rashid said keeping the overnight policy rates (OPR) too low for too long could lead to more imbalance, as people could actually be gearing up more excessively.

“People need to understand why there is a change in the monetary policy stance and the need to reflect on the state of the economy that they are in.

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