More banks in Malaysia lowering lending rates

Slowing exports and tepid inflation have raised expectations that policy makers will need to consider adding to May

PETALING JAYA: More banks in Malaysia are lowering their lending rates with Standard Chartered Malaysia jumping on the bandwagon this week, following the cut in the overnight policy rate (OPR) to 3% from 3.25% by Bank Negara on May 7.

In statement yesterday, Standard Chartered said it has lowered the interest rates for loans by 25 basis points with effect from May 14.