PETALING JAYA: Malaysia’s economy is projected to grow at 5.7% to 6.5% this year, with at least another 25 basis point (bps) hike in the overnight policy rate (OPR) amid higher inflationary pressures.

The projection by economists of gross domestic product (GDP) growth is higher than Bank Negara’s forecast growth range of 5.3% to 6.3% for the year despite headwinds.

AmBank Group chief economist Anthony Dass revised the GDP growth projection upwards for this year, adding that the base case GDP growth target for 2022 is now 6.4%, up from 5.6% previously.