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WIll BLR in future increase from 6.75% or lower, (Discuss)
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jeff_ckf
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 Jun 10 2008, 07:19 PM
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QUOTE(georgechang79 @ Jun 10 2008, 07:10 PM) I am confused here. Pls correct me if i am wrong. The BLR is fixed at 6.25 by the Bank Negara. and the banks such as citybank or HSBC is offering 6.25 -1.5 to 1.7 is depend on the bank package to attract customers. Therefore it is the bank interest rate that fluctuates not BLR. Correction. BLR is 6.75. And you are right in the sense that loan packages are offered by banks. However, when the package states BLR - 1.7% for instance, the BLR is NOT FIXED. For the current rate, BLR - 1.7 = 5.05%. However, if Bank Negara decides to revise the BLR (most probably upwards) then your effective rate will be affected as well. |
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jeff_ckf
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Jun 10 2008, 09:41 PM
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QUOTE(cherroy @ Jun 10 2008, 09:34 PM) BLR is fixed at a ceiling level by BNM, currently 6.75%, yes correct. But the fixed rate can be changed from time to time by BNM depended on economy situation. Just for the last 2-3 years, economy is not moving in either direction, so the BLR is being left at 6.75% for this period of time but it doesn't mean future BLR will be the same especially current economy condition and inflation situation will have big impact on the macro-economy side. So BLR is not fixed but fixed at a ceiling by BNM  and can be reviewed from time to time, normally when BNM hold meeting, (about a month plus for every meeting interval), only when there is emergency situation, then BNM will act accordingly which is same across various countries central bank or Fed Reserves. I hope my explainatin is clear enough. In your personal opinion, do you think BLR will go up or down cherroy? And by how much? |
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jeff_ckf
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Jun 17 2008, 05:53 PM
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QUOTE(johnsonm @ Jun 17 2008, 05:36 PM) interest rates are definitely going up. no way then can go down any longer. spending must be curbed. hopefully unlike our petrol price increase, this will be done gradually so as to not kill off everyone in sight. Please give out reasons whenever you make a claim. Making unfounded claims based on your own gut feeling is not part of a discussion. |
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jeff_ckf
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Jun 19 2008, 11:22 AM
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QUOTE(ah_heng @ Jun 19 2008, 12:20 AM) According to my sources working in the bank, they said their banks have stopped giving out loans with fixed rates. That means, they ANTICIPATE that the BLR will increase SOON. Maybe as bad as in 1998....  ) Let's pray... Pray for? I'm sure some will pray for it to happen sooner and others will dread it |
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