KUALA LUMPUR, July 22 — Short-term rates are likely to remain steady next week with Bank Negara Malaysia expected to offer tenders to absorb excess funds from the system.
For the just-ended week, the overnight rate was quoted at 2.96 per cent, while the one-, two- and three-week rates stood at 3.02 per cent, 3.06 and 3.11 per cent, respectively.
The central bank intervened on a daily basis to mop up surplus liquidity by conducting range maturity auction tenders, Qard tenders, Commodity Murabahah Programmes, reverse repo tenders, and conventional money market tenders.
It also called for Qard money market tenders and conventional money market tenders.
The total liquidity surplus for the week just-ended declined to RM28.42 billion from RM39.1 billion in the conventional system on Friday, while in the Islamic system, it shed to RM10.92 billion from RM12.99 billion.
The benchmark three-month interbank rate stood at 3.43 per cent. — Bernama
