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

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

Liquidity is estimated at RM42.62 billion in the conventional system and RM27.58 billion in Islamic funds.

The central bank today will conduct three conventional money market tenders comprising RM1 billion tender each for seven, 21 and 32 days, respectively.

It will also conduct three Qard tenders of RM1.9 billion for seven days, RM1 billion for 14 days and RM600 million for 21 days.

The central bank announced the availability of reverse repo, sale and buy-back agreement, and collateralised commodity Murabahah facilities for tenors of one to three months.

At 4 pm, BNM will conduct up to RM38.6 billion conventional overnight tender and RM23.1 billion for Murabahah overnight tender.-Bernama