Don’t erode Bank Negara’s independence with populist pressure, says MP

[superadmin]

PETALING JAYA: Calls for Bank Negara Malaysia to face questioning in Parliament must be balanced with the need to keep the central bank free from political pressure, says a government MP.

Subang MP Wong Chen said the independence of the central bank must be maintained, to safeguard the interests of the people, economy and investors from the populist pressure exerted by politicians.

He said central bank officials could be called up by the parliamentary special select committee on finance and the economy to explain its decisions, such as the recent rise in the overnight policy rate, which had caused fears that commercial loan interest rates would also go up.

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