Short-term rates close stable on Bank Negara’s intervention

KUALA LUMPUR, Feb 22 — Short-term rates closed stable Friday as Bank Negara Malaysia intervened to absorb excess liquidity from the financial system.

Liquidity surplus in conventional operations was trimmed to RM12.299 billion from RM17.308 billion estimated in the morning while the excess in the Islamic system eased to RM2.486 million from RM2.537 billiyesterday.

The central bank conducted six tenders comprising four conventional, one repo and one Al-Wadiah.

Bank Negara also issued a late tender for RM12.3 billion in conventional operations and a RM2.5 billion Al-Wadiah tender, both for three-day money.

The overnight rate stood at 2.9 per cent while the one-, two- and three-week rates were pegged at 2.97 per cent, 3.01 per cent and 3.04 per cent, respectively. — Bernama


Please refrain from nicknames or comments of a racist, sexist, personal, vulgar or derogatory nature, or you may risk being blocked from commenting in our website. We encourage commenters to use their real names as their username. As comments are moderated, they may not appear immediately or even on the same day you posted them. We also reserve the right to delete off-topic comments