More banks raise base rate by 25 bps

Banks Malaysian Maybank RHB, Public Cimb

PETALING JAYA: More banks will be increasing in their base rate (BR), base lending rate (BLR) and base financing rate (BFR) by 25 basis points (bps) following Bank Negara’s announcement of a hike in the overnight policy rate to 2% from 1.75%.

The lenders include Public Bank Bhd, CIMB Bank Bhd, Hong Leong Bank Bhd, Affin Bank Bhd and Bank Muamalat Malaysia Bhd.

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