Short-term rates to remain stable on BNM intervention

KUALA LUMPUR, Sept 7 — Short-term rates are expected to remain stable today with Bank Negara Malaysia’s intervention to mop out excess liquidity from the financial system.

It estimated today’s liquidity at RM37.78 billion in the conventional system and RM12.93 billion in Islamic funds.

The central bank will conduct four conventional money market tender of RM2.5 billion for seven days and RM2 billion each for 14, 21 and 32 days, respectively.

It would also call for three Qard tenders comprising RM1.6 billion for seven days, RM900 million for 14 days and RM1 billion for 21 days.

At 4pm, the central bank will conduct up to RM29.3 billion in conventional overnight tender and a RM9.5 billion Qard overnight tender. — Bernama