Short-term rates likely to remain steady on BNM’s intervention

The central bank estimated today’s liquidity at RM34.30 billion in the conventional system and RM13.07 billion in Islamic funds. — Reuters pic
The central bank estimated today’s liquidity at RM34.30 billion in the conventional system and RM13.07 billion in Islamic funds. — Reuters pic

KUALA LUMPUR, Nov 29 — Short-term rates are expected to remain steady today on Bank Negara Malaysia’s (BNM) continuous intervention to absorb excess liquidity from the financial system.

The central bank estimated today’s liquidity at RM34.30 billion in the conventional system and RM13.07 billion in Islamic funds.

BNM will conduct a money market tender of RM5 billion for two days to 63 days, a Qard tender of RM4.8 billion for six days to 30 days and a commodity murabahah programme of RM300 million for 14 days.

It will also conduct a reverse repo tender of RM845 million for 65 days.

At 4pm, BNM will conduct an up to RM30 billion in conventional overnight tender and a RM8.0 billion overnight Qard. — Bernama

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