Bank Negara says it did not direct banks to raise interest rates for car loans

Responding to reports that it might have issued a directive to the banks to raise car financing rates, the central bank in a statement said that

KUALA LUMPUR: Bank Negara said it was the individual banks which determined the borrowers’ credit rating history and, pursuant to that, the banks also determined the appropriate interest rate.

Responding to reports that it might have issued a directive to the banks to raise car financing rates, the central bank in a statement said that “there is no directive from (us).”