for the past 2 months, i hear lots of gossip from bankers saying that gov will increase OPR.. thus other rates eg BLR will increase too. Personally i think gov shouldn't increase the OPR... despite sky rocketing inflation, its mainly driven by oil price... not consumer spending more... thus i think if gov increase interest rate will only worsen the consumer's spending power. any idea?

I would like to hear especially the opposite view of why you think gov SHOULD increase interest rate.