Public Bank to raise base rates by 0.25% from May 8

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 May 8.

Bank Negara has raised the overnight policy rate (OPR) hike by 25 basis points from 2.75% to 3.00% today.

“The bank’s SBR will be 3.00% in tandem with the OPR while the BR will increase to 3.52% from 3.27% and the BLR/BFR will increase to 6.72% from 6.47%,” the bank said in a statement.

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