Economy & Markets
How Will The OPR Hike Affect Your Finances?
When the world was affected by the COVID-19 pandemic, Bank Negara Malaysia (BNM) reduced the Overnight Policy Rate (OPR) to a historic low of 1.75% to boost the economy and avoid recession. Read more: 2020 OPR Cuts: What Does This Mean For Malaysians?
How Malaysians Can Take Advantage Of The Lower Overnight Policy Rate (OPR)
Bank Negara Malaysia (BNM) announced another Overnight Rate Policy (OPR) cut, making it the fourth reduction for 2020 on 7th July 2020. As a Malaysian, how can this low interest affect you in the best way? Here are 6 savvy ways on how you can take advantage of this lower OPR.
Digital Banks Are On the Rise In Malaysia – What Does This Mean for You? Experts Weigh In
Due to the impact of COVID-19, digital banking is expected to rise and transform the financial service industry in Malaysia. This requires digital banks to comply with the digital banking framework issued by Bank Negara Malaysia (BNM). But what is digital banking, how does it work and are businesses and consumers ready for it? Read…
CIMB, OCBC, & RHB Reduces Their Base Rates & Base Lending Rates
Responding to the move of Bank Negara’s reduction of the OPR to 3%, CIMB, OCBC, and RHB are reducing their own base rates and base lending rates (BLR) by as low as 0.25%. This move will see lower loan interest rates and, unfortunately, lower fixed deposit rates as well.