Friends,
Some useful info, quoted from Fortune Sense. From what i understand below, the author is predicting that there will be an increase in the interest rate coming up in the subsequent MPC meetings. If you remember back a few years ago (2006?), Bank Negara increased interest consecutively for 3 MPC meetings. Not sure how it will happen this time. Hope the below info will be useful in preparing you for the coming months.
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In the last Bank Negara Malaysia Monetary Policy Committee (MPC) 2010 first meeting on 26 January 2010, BNM kept the overnight policy rate (OPR) unchanged at 2%.
However at the same time, the BNM statement mentioned that MPC recognizes the need to ensure that the stance of monetary policy is appropriate to prevent the build up of financial imbalances that could arise from interest rates being too low for a prolonged period of time.
This sentence interpreted by the analyst as the indication that BNM is about to raise the OPR soon in the future MPC meeting.
Regarding this intention to raise the interest rate in future, BNM's governor Tan Sri Dr Zeti Akhtar Aziz mentioned that the move by BNM should be viewed as a step to restore the interest rate back to the normal rate and should not be seen as tightening of the policy.
The decision to reduce of the Overnight Policy Rate (OPR) to 2 Percent during last 24 February 2009 Monetary Policy Committee (MPC) was a step that the country at that time had to take to avoid the fundamental recession.
BNM's governor pointed out that the prolonged of the low interest rates would cause the people to invest in other investment products that possibly have a higher risks associated with it in order to have a better investment return than the conventional banking system products.
These kinds of actions by the people might cause some problems in future and BNM do not want to wait for such things to happen.
It seems that BNM is trying to take the proactive action to prevent any unwanted consequences that might due to public invest in the high risks investment products.
Are you the category of people that stay away from the conventional banking saving products that offering a return rate between 2 to 3 percent for your fixed deposit?
Do ensure that your leverage level is manageable and have a positive cash flow for your investment products. With the BNM statement and the remind by BNM governor, the raise of the interest rate is imminent and be prepared for it.
Do take note on the upcoming MPC meeting as below,
- 4 March 2010 (Thursday)
- 13 May 2010 (Thursday )
- 8 July 2010 (Thursday )
- 2 September 2010 (Thursday )
- 12 November 2010 ( Friday )
3 comments:
Adakah peningkatan ini akan menyebabkan peningkatan BLR?
Yes. THats why it affects most of us. I dont think many people will be too concerned about saving's account nyer interest rate. And similarly, not many Malays put their money into FD. So the biggest impact is on house loans.
Ada 5 MPC meetings, (not necessary tapi) kalau each time meeting naik interest rate, mcm mana org nak survive, esp. yg dok kat bdr2 besar??
Kita punya Islamic banking product pun bukan win-win case for us... semua nak cekik darah...
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