Following today’s monetary policy committee (MPC) meeting, Bank Negara Malaysia (BNM) has decided to maintain the overnight policy rate (OPR) at 3%. The 3% OPR has been the same since May 2023 when it was increased by 25 basis points from 2.75%.
Car loans are affected by the OPR, with higher rates resulting in hire purchase loans becoming more expensive and potentially harder to gain approval. This will have an impact on car sales. So this should be good news for the MAA.
According to BNM, the OPR level is in line with the health of the economy and remains supportive of growth while keeping inflation in check.
The BNM MPC meets to make OPR decisions every two months and the results of the next meeting will be released at 3pm on March 7 2024.
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the existing HP is fixed isn’t it regardless if opr up or down…
For new applications.
OPR might not go up but SST is going up, LVG has came up, electricity prices has gone up (ergo hurting EV users), transporters & haulers are now taxed so price of good will go up, and everything else are seeing Price Hikes and profiteering for the rich & businesses. Even OPR can simply be raised whenever they like so if its not today it might be tomorrow. Don’t be too happy yet.
Cash buy apadehal
Mama Mia very happy ringgit is 30 percent undervalued against usd