Short-term rates set to remain stable on BNM’s operations next week

KUALA LUMPUR: Short-term rates are likely to remain stable next week on Bank Negara Malaysia’s (BNM) operations to absorb surplus liquidity in the financial system.

The central bank intervened on a daily basis to reduce excess funds from the financial system by conducting tenders, including conventional money market tenders, reverse repo tenders, Qard tenders, and Commodity Murabahah Programme tenders.

The total liquidity surplus in the conventional system for the week inched up to RM39.30 billion from RM39.22 billion in the preceding week.

Meanwhile, in the Islamic system, the surplus fell to RM31.60 billion from RM31.73 billion previously.

The Malaysia Islamic Overnight Rate (MYOR-i) stood at 2.75 per cent as of Feb 23, 2023. – Bernama