Today read this news from TheEdge , that our central bank rumoured to be deciding if to cut the OPR to another 75 basis point.
Source:
https://www.theedgemarkets.com/article/bnm-expected-cut-opr-another-75-basis-points-%E2%80%94-cgscimb
To be frank, i found this is not too surprise , as the Fed US already cut for few times and lot more basis points compared to us.
Just I thinking , what this news could impact me more personally ?
I immediately thought of the fixed deposit rate gonna reduce and reduce further , as Bank is operating at lower interest range and margin...
So after work , the first thing I could possible do better is checking self e-FD whether is it recently auto-renewed ? if yes, I choose to uplift and make another e-FD with longer tenure, considering the bad economy situation will be staying for quite sometime.
What about others? can share with me , how much is fixed deposit rate in your country ? say for a year.
For Malaysia, the bank that I placed e-FD is 2.65% for 12months, as of writing now.
Low interest could trigger the consumer desire to loan and invest property, this I will share more info the later posts. Stay tune
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