Public Bank cuts interest rates by 23 basis points

0

KUALA LUMPUR: Public Bank Bhd (PBB) is trimming its base rate and base lending rate/base financing rate by 23 basis points effective July 27, 2016, following the reduction by Bank Negara in the overnight policy rate (OPR).

This will bring Public Bank’s base rate to 3.52% and base lending rate / base financing rate to 6.72%.

“In line with the objective of the pre-emptive action by Bank Negara Malaysia to reduce the OPR, Public Bank reduces its lending and financing rates to pass on the benefits to the customers.

The move is poised to be a positive catalyst for the Malaysian economy to continue growing on a steady path amid increasing signs of moderating momentum in global economic growth,” founder and chairman Tan Sri Teh Hong Piow said in a statement.

“On a positive note, domestic demand as the main engine of the Malaysian economy will remain supported by monetary accommodativeness, healthy financial condition and stable inflation in the domestic economy,” he added.

News Source: (Star Property)

Click here for more English related articles

Property News   |   Home and Living   |   Feng Shui


Property Recommend:

spring ville condo

Spring Ville Condominium

one imperial condo

One Imperial Condominium

apartment crystal tower

Apartment Crystal Tower

elite height

Elite Height

Share.

About Author

mm

WonderList is a real estate mobile application that promotes genuine listings and creates networking. Our mission is to bring property agents from around the world into an online platform that promotes trust, integrity and professionalism.

Leave A Reply