Public Bank raises lending rate, fixed deposit rate by 0.25%

This follows after the local regulator raised its policy rate by 25 basis points.

Malaysia’s Public Bank is raising its base rate (BR) and base lending rate (BLR) or base financing rate (BFR) by 0.25% effective 8 July.

Public Bank’s new BR to 2.77% from 2.52% previously; whilst its BLR/BFR is now 5.97%, from a former 5.72%.

Fixed deposit rates will also be increased 0.25% across all tenures.

This is in line with Bank Negara Malaysia’s overnight policy rate (OPR) hike of 25 basis points, from 2% to 2.25%.