Bank Negara surprises dropping interest rate to lowest in 9 years
PETALING JAYA: The surprise move by Bank Negara to reduce the overnight policy rate (OPR) to 2.75% – the lowest level in nearly nine years – has rattled banking stocks as margin compression fears kick in. Major banking counters such as PUBLIC BANK BHD (-2.36%), HONG LEONG BANK BHD (-3.56%), CIMB GROUP HOLDINGS BHD (-1.95%) and MALAYAN BANKING BHD (-0.58%) yesterday saw selldowns,...
- By srec
- January 24, 2020
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