The expectation is that, inflationary pressures would gather pace in the coming months. However, given the ineffectiveness of the interest rate policy tool in containing oilinduced price increases and in view of the transient nature of inflation, Bank Negara would remain hesitant to raise rates, as long as the economic momentum is still on a downward trajectory. Publication: MIERScan, 11 July 2005.  Author: Chew, Kevin.