Higher OPR helps to increase average savings deposit rate

The higher overnight policy rate (OPR) has led to an increase in the average savings deposit rate, which increased by nine basis points (bps) to 0.96 percent as at end-July.

The Finance Ministry in its 'Economic Outlook 2024' report released today said the OPR, which was adjusted in May with an increment of 25 bps, brought the OPR to its pre-pandemic level of 3.00 percent and was...