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Overnight Policy Rate Reduced to 3.25 percent

Started by yowchuan · 7 months ago

At the Monetary Policy Committee (MPC) meeting today, Bank Negara Malaysia decided to reduce the Overnight Policy Rate (OPR) to 3.25 percent. The ceiling and floor rates of the corridor for the OPR are correspondingly reduced to 3.50 percent and 3.00 percent respectively.
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4 comments

  • imDavidLee

    7 months ago

    this mean that the BLR rate will be decreased also?
    reply
  • yowchuan

    7 months ago

    Yup, as we are discussing about this, majority of the banks are adjusting their BLR downwards by 0.25%.

    We will see majority of the banks charging home loan rates at 6.5%. Yet, we need to remember that home loan is not just about the interest rates. Banks are VERY GOOD with fine prints!
    reply
  • dynn

    7 months ago

    I saw in the newpaper today, affinbank and citibank BLR @ 6.55% not 6.50% as what i'm expected.
    reply
  • yowchuan

    7 months ago

    dynn, the base lending rate for Citibank before the adjustment was 6.80%.

    I am not sure about Affin Bank though...
    reply

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