Short-term rates to remain stable on Bank Negara intervention
KUALA LUMPUR, June 5 — Short-term rates are expected to remain stable Tuesday on continuous intervention by Bank Negara Malaysia to absorb surplus liquidity from the financial system, dealers said.
The central bank estimated today's surplus at RM23.089 billion in the conventional system and RM5.343 billion in Islamic funds.
In the conventional system, it will conduct two RM1 billion tenders for seven days and 14 days, two RM1.5 billion tenders for 21 days and 28 days and one RM500 million tender for 63 days.
The central bank will also conduct a RM300 million repo tender for 62 days and three Al-Wadiah tenders, namely RM1.2 billion for 14 days, RM500 million for 21 days and RM2 billion for 28 days.
It will also carry out a Commodity Murabahah Programme tender worth RM500 million for 30 days.
At 4pm, the central bank will conduct up to RM17.3 billion in conventional overnight tender and a RM1.9 billion Al-Wadiah overnight tender. — Bernama