KUALA LUMPUR, Dec 2 — 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-week, 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 narrowed to RM31.41 billion from RM34.7 billion last week.
In the Islamic system, it rose to RM10.21 billion from RM5.02 billion previously.
The benchmark three-month interbank rate stood at 3.43 per cent.
The market was closed yesterday for the Maulidur Rasul holiday. — Bernama
