KUALA LUMPUR (Jan 4): Bank Negara Malaysia (BNM) has the right and authority in making decisions such as the overnight policy rate (OPR) to ensure the stability of the country’s economy, without intervention from the Government.
Prime Minister Datuk Seri Anwar Ibrahim said the right and authority that have an impact on the national economy have been given specialisation respectively, as stipulated in Malaysian regulations and laws.
“[Changes relating to the] OPR are decisions of BNM and not the Ministry of Finance (MOF). I can discuss it if needed, but that is the prerogative of BNM,” he told reporters on Wednesday (Jan 4), after the weekly Cabinet meeting.
The 10th PM of Malaysia was responding to a question on the impact and action by the MOF, following the expected increase in the OPR twice by BNM.
Anwar said the central bank is mandated to promote monetary and financial stability that is conducive to continued growth of the Malaysian economy.
Meanwhile, Anwar said a joint discussion involving BNM governor Tan Sri Nor Shamsiah Mohd Yunus and Economy Minister Mohd Rafizi Ramli would be held before drafting of Budget 2023.
“I have invited the BNM governor and the economy minister to discuss together.
“As I remember, this is an approach that I used to do. It is not foreign to me, because the action of any party will also involve the overall economic policy,” he said.
Anwar, who is also the finance minister, is scheduled to table Budget 2023 in the Dewan Rakyat on Feb 24 in the First Session of the 15th Parliament.
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