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

BNM estimated today’s liquidity at RM37.04 billion in the conventional system and RM12.88 billion in Islamic funds. — AFP picBNM estimated today’s liquidity at RM37.04 billion in the conventional system and RM12.88 billion in Islamic funds. — AFP picKUALA LUMPUR, Feb 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 RM37.04 billion in the conventional system and RM12.88 billion in Islamic funds.

The central bank will conduct three conventional money market tenders, comprising two RM3 billion for seven days and 14 days, and RM2 billion for 21 days.

BNM will also issue three Qard tenders, namely a RM1.2 billion for seven days, RM850 million for eight days and RM500 million for 14 days, as well as, a RM300 million reverse repo tender for 28 days.

At 4pm, BNM will conduct up to RM29.3 billion in a conventional overnight tender and a RM10.3 billion overnight Qard. — Bernama

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