Short-term rates likely to remain stable on BNM intervention

KUALA LUMPUR, March 9 ― 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 RM43.722 billion in the conventional system and RM7.997 billion in Islamic funds.  

BNM will conduct a RM5 billion conventional money market tender for seven days, a RM500 million Commodity Murabahah Programme tender for 21 days and a RM500 million reverse repo tender for 184 days.   

The central bank will also conduct two Qard tenders comprising RM1.70 billion for seven days and RM500 million for 14 days.                

At 4pm, BNM will conduct an up to RM36.6 billion in conventional overnight tender and a RM5.3 billion overnight Qard. ― Bernama