Short-term rates likely to remain stable on BNM intervention

KUALA LUMPUR, March 2 ― 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 RM46.28 billion in the conventional system and RM16.19 billion in Islamic funds.

BNM will conduct a money market tender comprising RM8.0 billion for six days to 33 days and two Qard tenders of RM2.9 billion for seven days and RM2.1 billion for 14 days.

It will also conduct a RM2.5 billion commodity murabahah programme for 21 days and a reverse repo tender of RM340 million for 184 days.

At 4pm, BNM will conduct an up to RM37.5 billion in conventional overnight tender and a RM8.8 billion overnight Qard. ― Bernama