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