Short-term rates to remaind steady on BNM intervention

BNM estimated today’s liquidity at RM36.31 billion in the conventional system and RM10.58 billion in Islamic funds. — Reuters pic
BNM estimated today’s liquidity at RM36.31 billion in the conventional system and RM10.58 billion in Islamic funds. — Reuters pic

KUALA LUMPUR, June 20 — Short-term rates are expected to remain steady today on Bank Negara Malaysia’s  (BNM) intervention to reduce excess liquidity from the financial system.

BNM estimated today’s liquidity at RM36.31 billion in the conventional system and RM10.58 billion in Islamic funds.

The central bank will conduct a RM8 billion range maturity auction money market tender for two to 92 days and a RM2.5 billion Islamic range maturity auction Qard tender for nine to 28 days.

A RM350 million repo tender for 62 days and a RM1.05 billion commodity murabahah programme for 30 days woudl also be called.

At 4pm, BNM will conduct up to RM28 billion in conventional overnight tenders and a RM7.1 billion overnight Qard tender. — Bernama

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