Public Bank to reduce base rates

PETALING JAYA: Public Bank will reduce its base rate (BR) and base lending rate (BLR) / base financing rate (BFR) by 0.25% effective March 6, in line with Bank Negara Malaysia’s Overnight Policy Rate (OPR) cut by 25 basis points from 2.75% to 2.50%.

In a statement today, it said fixed deposit rates will also be correspondingly adjusted by 0.25%, effective on the same date.

“Public Bank’s Base Rate reduction is timely to ease the borrowers’ burden and to spur the nation’s economic growth amidst the ongoing economic challenges brought about by the Covid-19 outbreak.

“Public Bank will continue to proactively manage its assets and liabilities to ensure interest rates are priced responsibly at all times for the benefit of its customers,” it noted.

source https://www.thesundaily.my/business/public-bank-to-reduce-base-rates-JX2077856