Foreign banks in Malaysia raise their cost of borrowing
OCBC, UOB and, from Friday, HSBC, in Malaysia raise their base rates and consequently, their effective lending rates
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Kuala Lumpur
BORROWING costs are set to rise in Malaysia, with a number of banks having raised their base rates (BR), partly as a result of a liquidity crunch brought about by a shortage of ringgit and US dollars, analysts say.
As of last week, foreign banks including OCBC Bank (Malaysia) and United Overseas Bank (Malaysia) had bumped up their BRs; HSBC Bank Malaysia will make its change on Friday.
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