And One More Time: BNM Cuts OPR Again
And again…
Bank Negara cuts OPR by half percentage point
KUALA LUMPUR: Worried about a growing risk of an economic contraction this year, Bank Negara has cut the overnight policy rate (OPR) by 50 basis points, or half a percentage point, to 2% as the global economy continues to deteriorate.
In a statement yesterday, the central bank announced the statutory reserve requirement (SRR) would also be cut from 2% to 1% from March 1 to reduce the cost to banks.
The ceiling and floor rates of the corridor for the OPR were correspondingly reduced to 2.25% and 1.75% respectively.
Means our properties become less valuable?
Comment by hyperX — February 25, 2009 @ 1:07 pm
Means our govt is very very desperate.
Property prices expected to drop 10-20% in 2009. Those in expat areas like KLCC & Mont Kiara expect to drop more than other places.
Comment by ichi — February 25, 2009 @ 10:34 pm
our BLR should now be 5.25% instead of 5.55% announced by MBB. last round of drop is 75 points from 6.5%. but they held onto 5.95%. now BNM announce another 50 points cut, they stick at 5.55%! in view of this, bankers are actually making “more” money than the should!!
Comment by heck — February 26, 2009 @ 11:52 am
Hi,
This means that my repayment for any loans including property is less but bad news for those having deposits in bank.
Comment by Ronnie — February 27, 2009 @ 3:02 pm