BNM: Short-term rates expected to remain stable

KUALA LUMPUR, July 5 — Short-term rates are expected to remain stable today on Bank Negara Malaysia’s  (BNM) intervention to absorb surplus liquidity from the financial system.

BNM estimated today’s liquidity at RM38.69 billion in the conventional system and RM13.41 billion in Islamic funds.

The central bank will conduct  four conventional money market tenders, of which two RM2.5 billion tenders will be called for seven days and 14 days, respectively and another two RM1 billion tenders will be called, each for 21 days and 33 days, respectively.

BNM will also call for one Qard tender Islamic Range Maturity Auction, valued at RM4.5 billion for 6-28 days.

At 4pm, BNM will conduct up to RM31.7 billion in conventional overnight tenders and a RM8.9 billion overnight Qard tender. — Bernama