money

Short-term rates expected to remain stable

A woman walks pass the headquarters of Bank Negara Malaysia in Kuala Lumpur, March 30, 2015. — Picture by Yusof Mat IsaA woman walks pass the headquarters of Bank Negara Malaysia in Kuala Lumpur, March 30, 2015. — Picture by Yusof Mat IsaKUALA LUMPUR, Feb 14 — 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 RM42.55 billion in the conventional system and RM12.06 billion in Islamic funds.

The central bank will conduct a range maturity auction tender of RM12 billion for five days to 61 days.

BNM will also issue three Qard tenders of RM1.8 billion for seven days, RM800 million for 14 days and RM100 million for 21 days.

At 4 pm, BNM will conduct an up to RM30.6 billion conventional overnight tender and RM9.4 billion overnight Qard. — Bernama

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