KUALA LUMPUR, Nov 25 — Short-term rates are expected to remain stable next week with Bank Negara Malaysia (BNM) likely to intervene by offering tenders to absorb surplus liquidity from the system.
For the week just ended, the overnight rate was quoted at 2.97 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 excess liquidity by conducting conventional money market tenders, Qard tenders, reverse repo, repo, range-maturity auction money market tenders, Islamic range-maturity auction money market tenders, Commodity Murabahah Programme tenders, and a BNM Interbank Bill.
The total liquidity surplus in the conventional system for the week just ended widened to RM34.7 billion from RM25.95 billion last week.
In the Islamic system, it fell to RM5.02 billion from RM10.3 billion previously.
The benchmark three-month interbank rate stood at 3.43 per cent. — Bernama
