Short-term rates to remain stable next week

KUALA LUMPUR, April 19 — Short-term rates are expected to remain steady next week as Bank Negara Malaysia (BNM) continues to intervene to siphon excess funds from the interbank system, dealers said.

The central bank is expected to call for several money market tenders, including conventional, Islamic, Commodity Murabahah programme, range maturity auctions and repo tenders, daily.

For the week just-ended, BNM intervened daily to absorb surplus funds.

The liquidity surplus in the conventional system amounted to RM19.032 billion while the excess in the Islamic system stood at RM2.905 billion.    

The overnight rate remained pegged at 2.94 per cent, while the one-week, two-week and three-week rates stood at 3.02 per cent, 3.06 per cent and 3.09 per cent, respectively. — Bernama