Affin raises its reference rates by 25 basis points
KUALA LUMPUR: Affin Bank Bhd, Affin Islamic Bank Bhd and Affin Hwang Investment Bank will revise their loan/financing reference rates upward by 0.25% effective July 8.
“In line with the revision, Affin Bank fixed deposit and Affin Islamic Bank Term Deposit-i Board Rates will also be adjusted upwards, effective July 8,” the bank said in a statement.,
Bank Negara raised the overnight policy rate (OPR) by another 25 basis points (bps) to 2.25% following the conclusion of its latest monetary policy committee (MPC) meeting today, in line with the expectations of most economists.
The central bank said the ceiling and floor rates of the corridor of the OPR are correspondingly increased to 2.5% and 2% respectively.