KUALA LUMPUR, Aug 11 ― Bank Negara Malaysia (BNM) has released the revised Reference Rate Framework, under which the Standardised Base Rate will replace the Base Rate (BR) as the reference rate for new retail floating-rate loans from August 1, 2022. The central bank said under the revised...
KUALA LUMPUR, Aug 11 ― Bank Negara Malaysia has released the revised Reference Rate Framework, under which the Standardised Base Rate will replace the Base Rate as the reference rate for new retail floating-rate loans from August 1, 2022.
Governor Datuk Nor Shamsiah Mohd Yunus said consumers would find it easier to understand changes in their loan repayments as the OPR will be the only driver of the Standardised Base Rate. BNM said the shift towards the Standardised Base Rate following the revision in the Reference Rate Framework does not represent a change in the monetary policy stance of BNM’s monetary policy committee.
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