DAP urges Bank Negara not to raise interest rates

DAP has urged Bank Negara not to increase its overnight policy rate (OPR) - widely expected to be by 25 basis points from 2.25 percent to 2.5 percent - this week.

In a statement today, DAP chairperson Lim Guan Eng said previous efforts by Bank Negara to increase the OPR appeared to have no effect on inflation, with the consumer price index rising by 4.4 percent in July compared to 3.4 percent in June.

Lim, a former finance minister and Penang chief minister, argued that...