Major banks to raise rates

PETALING JAYA: A number of banks will raise their base lending rates (BLR) and base financing rates (BFR) in tandem with Bank Negara’s announcement to raise the overnight policy rate (OPR) by 25 basis points (bps) from 3% to 3.25% effective tomorrow.

As a result, the BLR and BFR will be adjusted to 6.85% from 6.6% per annum previously.