No lah. When FD at 4.xx%, housing loan is BLR - 2.xx%. Credit card loan at 18%pa. Car loan (new car) 2.x%-3.x%

Now FD at 3.xx%, housing loan still same rate. Credit card also same rate. Car loan also same rate. Bank's margin is larger

Now bank's loan affected by rulings. Inflation affect spending. Banks got excess money. BNM has to absorb the excess. That is what the link I provided is saying. So that BNM's OPR is maintained at ~3%. If BNM don't intervene and let market decide the rate, BLR should have come down. Along the way, banks make more money. That is what my friend's quote says.