Short-term rates to remain stable on BNM intervention

KUALA LUMPUR, April 20 — Short-term rates are expected to remain stable today on Bank Negara Malaysia’s (BNM) continuous intervention to absorb excess liquidity from the financial system.

The central bank estimated today’s liquidity at RM44.76 billion in the conventional system and RM13.22 billion in Islamic funds.

BNM will conduct a RM10 billion range maturity auction money market tender for five days to 91 days, RM350 repo tender for 61 days, RM3.1 billion Islamic range maturity auction Qard tender for seven days to 22 days and RM500 million Commodity Murabahah Programme for 32 days.

At 4pm, BNM will conduct up to RM34.4 billion conventional overnight tender and RM9.7 billion for Qard overnight tender. — Bernama