Short-term rates to remain stable on BNM's 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 RM35.69 billion in the conventional system and RM24.63 billion in Islamic funds.

The central bank will conduct three RM1 billion conventional money market tenders, each one for seven days, 21 days and 31 days, respectively, as well as a RM6 billion Islamic range maturity auction (iRMA) Qard tender for seven days to 31 days.

It will also conduct a RM500 million Commodity Murabahah Programme tender for 61 days and a RM790 million reverse repo tender for 91 days.

The central bank also announced the availability of reverse repo, sale and buy-back agreement and collateralised commodity Murabahah facilities for tenors of one to three months.

At 4 pm, BNM will conduct up to RM32.7 billion conventional overnight tender and RM17.1 billion for Murabahah overnight tender.

-- BERNAMA