Short-term rates to remain stable on BNM intervention

KUALA LUMPUR, July 6 — 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 RM41.7 billion in the conventional system and RM10.34 billion in Islamic funds.

The central bank will conduct money market range maturity auction tender of RM10 billion for 5-32 days and BNM will also call for four Qard tenders valued at RM1.1 billion for seven days, RM600 million for 14 days, RM100 million for 21 days and RM500 million for 27 days.

At 4pm, BNM will conduct up to RM31.7 billion in conventional overnight tenders and a RM8.0 billion overnight Qard tender. — Bernama