CIMB to raise Base Rate, BLR and BFR by 0.25%

PETALING JAYA: CIMB Bank Bhd and CIMB Islamic Bank Bhd will increase its Base Rate and Fixed Deposit Board Rates by 0.25% effective Feb 2, 2018, in view of Bank Negara's recent Overnight Policy Rate (OPR) hike.
Similarly, loans and financing based on its Base Lending Rate (BLR) and Base Financing Rate (BFR) respectively will also be increased by 0.25% on the same date, CIMB said in a statement today.
The central bank decided to raise the OPR by 0.25% to 3.25% from 3% at its Monetary Policy Committee (MPC) meeting yesterday, in order to prevent the build-up of risks that could arise from interest rates being too low for a prolonged period of time.