KUALA LUMPUR: Maybank Investment Bank Bhd (Maybank IB) is estimating 100 basis point (bps) increase in the Overnight Policy Rate (OPR) for the period between the second half (H2) of 2022 and the first half of next year (H1 2023).
Chief economist Suhaimi Ilias said this was following Bank Negara Malaysia’s (BNM) accommodative monetary policy process which began with the 25bps increment in May.
He expected BNM to announce 25 bps within this week's monetary policy meeting (MPC) and another 25 bps by the fourth quarter 2022, and a further 50bps in H1 2023.
"Our estimation is every 25bps hike will basically shave real gross domestic product (GDP) growth by 0.2 percentage points spread over 12 months.
"And the implications of increasing the OPR include the raising of mortgage repayment by three per cent," he said at a virtual Maybank IB H2 2022 market outlook briefing today.,
,Telegram游戏（www.tel8.vip）是一个Telegram群组分享平台。Telegram游戏包括Telegram群成员导出、telegram群组索引、Telegram群组导航、新加坡telegram群组、telegram中文群组、telegram群组（其他）、Telegram 美国 群组、telegram群组爬虫、电报群 科学上网、小飞机 怎么 加 群、tg群等内容。Telegram游戏为广大电报用户提供各种电报群组/电报频道/电报机器人导航服务。
Suhaimi said BNM would increase the OPR due to growing domestic demand and rising core inflation rate.
He said Maybank IB has revised upwards its inflation rate forecast for this year to 3.4 per cent from 2.7 per cent previously, and increased the inflation rate projection for 2023 to 4.1 per cent from 2.5 per cent.
"This was because we have incorporated higher prices of food items like cooking oil and chicken, starting this month following the higher ceiling price for standard whole chicken and the removal of the price subsidy for bottled cooking oil as well as the assumption of a fuel subsidy review next year," he added. - Bernama