Rate cut to have little impact on property sector

Bank Negara lowered the OPR by 25bps to 3% on Tuesday. Based on historical trends, CGSCIMB said this is likely to result in banks lowering their indicative lending rates.

PETALING JAYA: The latest overnight policy rate (OPR) cut is expected to have a negligible impact on the local property sector, in light of muted gross development product (GDP) growth.

CGSCIMB said in a report yesterday that the OPR cut would spur property demand to some extent.