Public Bank to raise base rates by 0.25% effective Nov 7

KUALA LUMPUR: Public Bank Bhd will increase its standardised base rate (SBR), base rate (BR) and base lending rate (BLR)/ base financing rate (BFR) by 0.25% effective Nov 7.

“The bank’s SBR will be 2.75% in tandem with the overnight policy rate (OPR) while the BR will increase to 3.27% from 3.02% and the BLR/BFR will increase to 6.47% from 6.22%,” it said in a statement.

At the same time, Public Bank’s fixed deposit rates will also be adjusted upwards, effective on the same date.

Bank Negara’s Monetary Policy Committee (MPC) has raised its OPR by 25 basis points (bps) to 2.75%.