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Of course more profit for the bank. Bank will adjust your hire purchase & mortgage rate almost immediately. But your FD will be adjusted when your tenure is renewed once matured. During this kind of transition time, banks can make tons of money out of nothing.
Currently MBB total loans, advance & financing is around 541 billion. That is 541,000,000,000 in numbers. 25bps makes an additional RM 112 million different every month until things are normalize.
Bank Negara need to raise rate ahead of US . Any delay will result a collapse in Ringgit value. A rate rise is one the most powerful tool to fight inflation. I thought they will act only after GE 15. Good job to Bank Negara and the Finance MINISTER.
Cukai makmur - some companies may resort to creative accounting. But MBB can easily use DRP to offset the additional 9% tax to maintain its dividend payout.
