OPR 3%, BANK OLIGOPOLI AKAN UNTUNG RM30 BILLION !! BAYAR BULANAN HOUSING LOAN, CAR LOAN SEMUA AKAN NAIK. TUAN-TUAN AKAN POKAI. HIDUP REFORMATI! SOALAN CEPU MAS UNTUK MAKCIK BANK NEGARA

 Only banks have gained from OPR hikes, says Guan Eng | Free Malaysia Today (FMT)

https://www.freemalaysiatoday.com/category/nation/2023/05/24/only-banks-have-gained-from-opr-hikes-says-guan-eng/

• Only banks have gained from OPR hikes, says Guan Eng

Lim Guan Eng said Bank Negara Malaysia should not have raised the OPR to 3% in May.

• Guan Eng criticised BNM for OPR hike to 3%
• BNM paused OPR hikes in Jan, March when inflation higher
• but increase OPR in May when inflation “reined in”
• BNM no hike OPR in Jan, March, inflation 34-month low 3.4
• The hikes in OPR have benefitted no one except the bank
• OPR 3% nudge up banks’ net profit by 3.7% (RM1b) to RM30b 
• “Have the banks not earned enough?” he asked

My Comments : Terima kasih dan tahniah kepada classmate saya dulu YB Lim Guan Eng yang telah mengulangi apa yang saya pun sudah bangkitkan tempoh hari. 

Tujuan Bank Negara naikkan OPR (interest rate atau kadar faedah bank) adalah untuk mengawal kadar inflasi. Tetapi sepertimana saya sudah jelaskan sebelum ini, dan diulangi oleh YB Guan Eng, kadar inflasi negara sudah pun menurun ke tahap 3.4% sahaja pada suku pertama tahun 2023. Jadi apakah lojiknya bagi Bank Negara naikkan interest rate OPR pada bulan Mei 2023 apabila kadar inflasi negara sudah pun capai tahap yang paling rendah dalam tempoh 34 bulan? Boleh tak Makcik Bank Negara jelaskan dengan cara simple dan clear? 

Makcik cute, sleepy face.

Soalan cepu mas bagi Makcik Bank Negara:

Former Finance Minister YB Lim Guan Eng says inflation is at a 34 month low. So there is no sound monetary logic behind raising the OPR at a time when inflation is quite under control. Why embark on demand destruction when demand is already dropping? 

Even the US Federal Reserve chairman cannot explain why he is raising US interest rates. But that is the policy of the IMF and people like Klaus Schwab  of the World Economic Forum. I hope you do not get any inspiration from them either.

But my soalan cepu mas is outside the jurisdiction of Bank Negara. N'theless I have to ask the question. Because the issue is the same.

Who actually requested for the tarif letrik to be increased? Last December the electricity tariffs were raised by 20 sen per kw/hr for MV and HV users. From 37 sen it became 57 sen.

Now they say the T20s will also pay 57 sen per kw/hr.

Who asked for this increase in electricity tariffs? Was it TNB? TNB made billions in profits last year. This year, with the super hike of 20 sen per kw/hr (54% jump) their net profits will also jump maybe 20, 30, 40% ? 

Did TNB ask for a tariff hike? If it was not TNB then who exactly asked for the electricity tariff hike?  TNB is a GLC that is owned by the government and other government agencies. 

The same question you have to answer. Who told you to raise the OPR to 3%? As Yb Guan Eng says only the banking oligopoly is going to make another RM1.0 billion in profit - for a total profit of RM30 Billion among the banking oligopoly in this country.

The people are going to become poorer. Monthly instalments for housing loans, cars loans are all going to go up. The people are going to be further burdened.

Only the banks are going to get richer, especially the GLC banking oligopoly that is controlled by the government or government agencies.

Can you please answer?

The views expressed are those of the writer and do not necessarily reflect those of MMKtT.