Short-term rates set to remain stable on BNM operations

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

Liquidity is estimated at RM51.12 billion in the conventional system and RM48.98 billion in Islamic funds.

Today, the central bank will conduct two RM2 billion conventional money market tenders, each one for seven days and 14 days, respectively, and a reverse repo tender of RM550 million for 61 days.

BNM has also called for three Qard tenders, comprising a RM1.80 billion tender for seven days, a RM800 million tender for 14 days and a RM900 million tender for 21 days.

It had also announced the availability of reverse repo, sale and buy-back agreements, and Collateralised Commodity Murabahah facilities for tenors of one to three months.

At 4 pm, it will conduct up to RM46.7 billion in conventional overnight tender and RM44.5 billion for the Murabahah overnight tender.

Following the announcement of Nov 28, 2022 as a public holiday, the central bank said that the maturity and settlement of money market placements with the bank for value date Nov 28 will be shifted to the next business day, namely Nov 29.

-- BERNAMA