Short-term rates likely to remain stable on BNM’s intervention

KUALA LUMPUR, Feb 25 — Short-term interbank rates are likely to remain stable today on Bank Negara Malaysia’s (BNM) intervention to absorb excess liquidity from the financial system.

The central bank estimated today’s liquidity at RM43.03 billion in the conventional system and RM11.06 billion in Islamic funds.

BNM will conduct a conventional money market tender comprising RM3.5 billion for seven days and a RM2.0 billion Qard tender for seven days.

It will also conduct a RM2.0 billion commodity murabahah programme for seven days and a reverse repo tender of RM200 million for 90 days.

At 4pm, BNM will conduct an up to RM38.0 billion in conventional overnight tender and a RM6.0 billion overnight Qard.  — Bernama