KUALA LUMPUR, Aug 26 — Short-term rates are expected to remain stable next week with Bank Negara Malaysia likely to offer tenders to absorb surplus funds from the system.
For the week just-ended, 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 per cent 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, Islamic range maturity auction tenders, Qard tenders, repo tenders, reverse repo tenders, Commodity Murabahah programme tenders and conventional money market tenders.
The total liquidity surplus in the conventional system for the week just-ended increased to RM27.54 billion from the previous week’s RM27.43 billion, while in the Islamic system, it rose to RM9.31 billion from RM7.42 billion.
The benchmark three-month interbank rate stood at 3.43 per cent. — Bernama
