DAP Secretary-General Lim Guan Eng has called the recently announced six-month bank loan moratorium a “cosmetic financial placebo” that will negligibly impact banks’ earnings.

It will also not reduce borrowers’ lending costs as it is not interest-free, rendering it meaningless, he said.

“How then does the Perikatan Nasional (PN) government’s waiver of compounded interest and later penalty fees really help...