BANK Negara Malaysia’s decision to raise the overnight policy rate (OPR) will encourage the government to manage the national expenditure prudently, Economy Minister Rafizi Ramli said.
Commenting on the central bank’s decision to raise the OPR by 25 basis points to 3% last week, he said the move will increase the cost of loans, thus inadvertently, the government will have to manage its expenditures more efficiently.