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

At 4pm, BNM will conduct up to RM30.2 billion in conventional overnight tenders and a RM7 billion Qard overnight tender. — Reuters pic
At 4pm, BNM will conduct up to RM30.2 billion in conventional overnight tenders and a RM7 billion Qard overnight tender. — Reuters pic

KUALA LUMPUR, May 17 — 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 RM33.45 billion in the conventional system and RM10.63 billion in Islamic funds.

BNM will conduct three conventional money market tenders, comprising RM1 billion each for seven, 14 and 21 days, respectively, as well as, a RM200 million repo tender for 33 days.

The central bank will also call for two Qard tenders, involving RM2.4 billion for seven days and RM1.3 billion for 14 days.

At 4pm, BNM will conduct up to RM30.2 billion in conventional overnight tenders and a RM7 billion Qard overnight tender. — Bernama

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