IT IS because consumer spending more. the oil is just another extra factor that worsen the economy. War in the near future will make it even worst if its happen.

Lately for the past ten years, look around you, more financial products are being innovatively brought out by banks. Financial regulations getting loosen here in Malaysia itself. Its like the BNM transferring the authorities to the local banks to do anything they want.

Loan/credit cards are getting easier to get for all levels of society. Look at investment funds, so many keep pouring out, mostly not doing well, but ppl still get fooled into buying it. Even some banks publishing some brochures showing the negative sides. lol

Some insurance/financial products can be cancelled by some banks after been released a few months. I know one bank did that.

since more credits can be easily obtained, why consumers shouldnt spend more ? Look at Us, the Federal Reserve lower the interest to 1%, look at the subprime issues. Look at Japan also, they also lower their interests.

Lower interests doesnt mean good. It only encourage ppl to spend more. The only reason the govt doesnt want to increase the interests i think is to protect the banks in Malaysia.