KUALA LUMPUR, Dec 23 — Malaysian interbank offered rates will be kept steady at current levels next week amid the present manageable liquidity levels in the monetary system, dealers said.
They said that Bank Negara Malaysia (BNM) would continue to enter the money market and call for tenders to keep the rates in check.
For the week under review, the central bank borrowed funds from both conventional and Islamic systems, including repo tenders.
A total of 37 money market tenders were well bid by market participants this week, including 17 in the conventional system and 17 in Islamic tenders.
BNM had also carried out three reverse repo tenders during the week to siphon off excess funds in the system.
The overnight Islamic reference rate stood at 2.97 per cent on Friday, while the one-, two— and three-week rates ranged from 3.02 per cent to 3.11 per cent.
The benchmark three-month Kuala Lumpur Interbank Offered Rates (KLIBOR) stood at 3.43 per cent.
Meanwhile, the one-, two-, six-, nine- and twelve-month monies remained at 3.18, 3.42, 3.56, 3.59 and 3.64 per cent, respectively. — Bernama
