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

KUALA LUMPUR, May 19 — 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 RM32.46 billion in the conventional system and RM10.80 billion in Islamic funds.

BNM will conduct two conventional money market tenders, comprising RM1 billion each for seven and 31 days.

The central bank will also call for three Qard tenders, involving RM700 million for seven days, RM700 million for 14 days and RM1 billion for 21 days.

At 4pm, BNM will conduct up to RM30.5 billion in conventional overnight tenders and a RM8.4 billion Qard overnight tender. — Bernama