money

Short-term rates expected to remain stable

A general view of the headquarters of Malaysia’s central bank, Bank Negara Malaysia, in Kuala Lumpur, January 29, 2013. — Reuters picA general view of the headquarters of Malaysia’s central bank, Bank Negara Malaysia, in Kuala Lumpur, January 29, 2013. — Reuters picKUALA LUMPUR, Aug 15 — Short-term rates are expected to remain stable today with Bank Negara Malaysia (BNM) intervening to absorb excess liquidity from the financial system.

BNM estimated today’s liquidity at RM30.89 billion in the conventional system and RM12.25 billion in Islamic funds.

The central bank will conduct four conventional money market tenders comprising RM1.5 billion each for  seven days and 14 days, respectively, RM500 million for 21 days and RM500 million for 31 days.

It would also call for a RM1.3 billion Qard tender for seven days and RM2.2 billion for 14 days and another  RM900 million for 21 days.

At 4pm, BNM will conduct up to RM26.9 billion in conventional overnight tenders and a RM7.9 billion Qard overnight tender. — Bernama

MORE ON MMOTV