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Short-term rates to remain stable on Bank Negara intervention

Short-term rates to remain stable on Bank Negara intervention
BNM will conduct three conventional money market tenders, each worth RM1 billion for seven days, 14 days and 31 days, respectively.
KUALA LUMPUR: Short-term rates are expected to remain stable today on Bank Negara Malaysia's (BNM) continuous intervention to absorb excess liquidity from the financial system.

The central bank estimated today's liquidity at RM34.72 billion in the conventional system and RM12.10 billion in Islamic funds.
BNM will conduct three conventional money market tenders, each worth RM1 billion for seven days, 14 days and 31 days, respectively.

It will also conduct two Qard tenders, each worth RM800 million for seven days and 14 days, respectively.

At 4 pm, BNM will conduct up to RM31.7 billion in conventional overnight tenders and a RM10.5 billion Qard overnight tender.

-- BERNAMA