KUALA LUMPUR, May 3 — Public Bank Bhd said it will increase its interest rates by 25 basis points from May 8, following Bank Negara Malaysia’s decision to raise the overnight policy rate (OPR) by the same amount today.
The bank said its standardised base rate (SBR) would rise to 3.00 per cent to match the OPR, while its base rate (BR) would go from 3.27 per cent now to 3.52 per cent.
As for its base lending rate (BLR) / base financing rate (BFR), Public Bank said these would increase to 6.72 per cent from 6.47 per cent.
It said its fixed deposit rates would also be increased the same day, but did not specify the quantum.
This afternoon, BNM announced the latest 25bp increase to the OPR, justifying this by saying the Malaysian economy was in sufficient health to withstand the hike.