Datuk Seri Anwar Ibrahim clarified that the rise in the Overnight Policy Rate (OPR) would influence the public to be more careful with their spending and encourage them to save. This is countering the misconception that it would result in higher inflation when the demand for goods and services surpasses supply.
OPR Hike, Malaysians save more to spend more?
A local news site published the article with a confusing headline, telling the rakyat they need to spend more in order to save more? One netizen even asked if they wrongly wrote the headline as to them it does not make sense. However, there are those who agree with the rates increasing
Another netizen asks that the Ringgit is weakening, rates are going up, paying the bank at a higher rate is not saving money in any way. One netizen responds by saying that as long as there is more Ringgit printed on the market than its demand, the currency will drop. The netizen states that the OPR rate needs to be at 4.0% in order for the rakyat to stop taking loans on frivolous things.
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