Short-term rates to remain stable on BNM’s operations

Bank Negara Malaysia.

KUALA LUMPUR: Short-term rates are expected to remain stable today on Bank Negara Malaysia’s (BNM) operations to reduce surplus liquidity from the financial system.

Today’s liquidity is estimated at RM23.42 billion in the conventional system and RM17.64 billion in Islamic funds.

The central bank will be issuing two conventional money market tenders comprising RM1.0 billion for 7 days and 14 days.

It will also issue two Qard tenders of RM2.4 billion for seven days and RM1.1 billion for 14 days.

At 4 pm, BNM will conduct an up to RM21.4 billion conventional overnight tender and RM14.2 billion Murabahah overnight tender.