If u look back of what Cherroy said. U will know any changes of interest rate now will severally worsen the Malaysia economy.

I am curious to see how a Rate hike can damage the most people. It will do more damages than actually helping the poor to fight the inflation. Especially those who barely save money in bank, they certainly wont benefit much with a better FD rates, instead their LOAN will get bigger.

I still think the Gov should have more tax reduction in any field or any kind of incentive skim to help the poor than raising interest.

Raisin rate will cause people save more. Arent we have a lot of cash sitting in bank now?

When the buying stop, the business owner profit lowered, When profit lowered, there will be job lay off. People with no jobs will spend even less. Thus it will make the business sector turn from bad to worst = more lay off and repeat and repeat again.

IMO, the 1998 case was the BNM was trying to save the money from being taking out from Malaysia. Saving a big sell off of RM. It failed until Dr. M fix the rate @ 3.8 as controlled currency. (If he didnt do that we probably drop to 1USD vs RM5-8.00)

I still think the BNM should not touch the interest rate.

Come on? Since when poor people have most of their money in bank? They probably use to pay loans & their expenses etc leaving nothing left to save.

having higher BLR only benefit the rich who have huge saving in bank, and the poor wont be able to get the FD interest benefit to counter the inflation.