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Short-term rates expected to remain stable

The headquarters of Bank Negara Malaysia in Kuala Lumpur, March 30, 2015. — Picture by Yusof Mat Isa
The headquarters of Bank Negara Malaysia in Kuala Lumpur, March 30, 2015. — Picture by Yusof Mat Isa

KUALA LUMPUR, June 16 — Short-term rates are expected to remain stable 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 RM35.94 billion in the conventional system and RM13.42 billion in Islamic funds.

The bank will conduct four conventional money market tenders – two RM2 billion tenders, each for seven days and 14 days, while  another two tenders are worth RM1 billion each, for 21 days and 31 days, respectively.

It will also call for two Qard tenders comprising RM2.55 billion for seven days, RM200 million for 14 days as well as one repo tender valued at RM450 million for 31 days.

At 4pm, BNM will conduct up to RM29.5 billion in conventional overnight tenders and a RM10.6 billion overnight Qard tender. — Bernama

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