hurry put more $$ into the FD before the bank renew downwards their FD rate

bank is very greedy as can see the previous blr cut was .75 points but the bank blr reduce from 6.5 to 5.95 which is only 5.5 gain .2

and the recent blr cut was .50 but the bank cut from 5.95 to 5.55 gain another .1

how can the bank not follow the rate cut it is very unfair as it seem.

when always bank negara annouce cut the next the day the bank revise the unfair rate and implement but the new blr by the bank delay till aweek or 2 only revise.

very unfair to consumer right. always like that bank untung only or on the upper hand

This post has been edited by lowyat888: Feb 27 2009, 02:00 PM

Bank Negara raises OP rate

PETALING JAYA: Bank Negara raised the overnight policy rate (OPR) by 25 basis points to 2.75% yesterday as local economic indicators continued to show robust growth. It is the third time the rates have been increased this year.

The floor and ceiling rates of the corridor for the OPR were correspondingly raised to 2.5% and 3% respectively, the central bank said.

Kenanga Investment Bank Bhd economist Wan Suhaimie Saidi told StarBiz that Bank Negara likely raised rates due to the latest Industrial Production Index (IPI) numbers, which showed a rise of 12.5% in May from a year earlier, higher than market expectations of a 10.5% growth (See B3).

“Even if the June IPI came in lower, the second quarter’s manufacturing output will already be higher than first quarter’s,” he said.

Bank Negara, in its monetary policy statement released yesterday evening, noted that recent trends in industrial production, financing activity, labour market conditions and external trade indicated that economic activity had remained robust in the second quarter.

“Going forward, while external developments may result in some moderation in the pace of growth, the domestic economy is expected to remain strong with continued improvements in private consumption and investment, and augmented by public investment spending,” it added.

Suhaimie said Bank Negara probably wanted to get all the rate hikes “done and over with” before a long pause as the global economy slowed in the second half of the year before picking up again in 2011.

Singapore-based Standard Chartered Bank economist Alvin Liew was quoted by Bloomberg as saying the rate decision was appropriate, given the good things happening in Malaysia’s economy.

“Given that we see the economy slowing down in the second half because of the external environment, we expect the central bank to keep rates unchanged for the rest of the year,” he said.

Bank Negara said that April and May saw modest increases in inflation, mostly on account of supply factors, and it was expected to remain moderate going into 2011.

“Prices are expected to rise at a gradual pace in the coming months in line with the continued improvement in domestic economic conditions, and taking into account possible adjustments in administered prices,” it said.


http://biz.thestar.com.my/news/story.asp?f...96&sec=business