This was meant to be written yesterday when the news was released, am so glad that BNM at the MPC meeting decided to cut the interest rate by lowering the Overnight Policy Rate (OPR) by 25 basis points (0.25%). Now OPR is at 3.25%. I'm just waiting for the BLR to follow suit & my loan repayment can finish faster! (provided no more interest hikes)...
Current BLR 6.75%, expected to drop to 6.50%. As usual the banks will adjust any upward rate ASAP but lowering of rates will be a little delayed...by next month it should be reflected in our statements.
Why did they cut? read on here
Rumors of another OPR cut next quarter...
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