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

Mimi Sabreena 10:43:00 AM Malay Mail Online | All

KUALA LUMPUR, Aug 23 — 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 RM33.98 billion in the conventional system and RM11.84 billion in Islamic funds.

BNM will conduct four conventional money market tenders of RM2 billion for 14 and 31 days respectively, RM3 billion for seven days, as well as RM1 billion for 62 days.

The central bank will also call for a repo tender of RM2 billion for 31 days and a Qard Islamic range maturity auction (iRMA) for RM5.3 billion for six days to 21 days.

At 4pm, BNM will conduct an up to RM24 billion in conventional overnight tender and a RM6.6 billion overnight Qard. — Bernama

Source : Malay Mail Online | All http://ift.tt/2bQufaV

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