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KUALA LUMPUR: OCBC Bank will be increasing its base rate (BR), base lending rate (BLR) and base financing rate (BFR) by 0.25 per cent tomorrow (May 18) following Bank Negara Malaysia’s announcement of a hike in the overnight policy rate (OPR) to 2 per cent from 1.75 per cent.
KUALA LUMPUR: Maybank has introduced its first-ever contactless automated teller machine (ATM) cash withdrawal service in Malaysia.
Finance Minister Tengku Zafrul says the country’s growth is on a firmer footing based on higher domestic and external demand among others.
PETALING JAYA: Going by Genting Singapore Ltd’s results for the first quarter of financial year 2022 (1Q22), the Genting group of companies is poised to see a recovery in earnings following the removal of pandemic-related constraints.
It’s time to unwind the excessive monetary accommodation before we reach a point where the risks of monetary expansion outweigh the benefits of cheap credit in an environment of high costs.
Bursa Malaysia is expected to see cautious trading with an upward bias next week, buoyed by a promising domestic economic outlook despite volatility in regional markets, a dealer said.
WITH the economy expected to improve further this year, no changes were made by the central bank to the country’s annual gross domestic product (GDP) growth projection of between 5.3% and 6.3% that was announced in March.
BANK Negara trampled market expectations by raising its key overnight policy rate (OPR) by 25 basis points (bps) to 2% from a record low of 1.75%. Market participants mostly projected that the first rate hike would happen in July.