Short-term rates to remain stable on Bank Negara’s intervention
KUALA LUMPUR, June 20 — Short-term rates are expected to remain stable Wednesday, prompted by continuous intervention by Bank Negara to absorb surplus liquidity from the financial system, dealers said.
The central bank has estimated today's surplus at RM22.97 billion in the conventional system and RM3.72 billion in Islamic funds.
In the conventional system, the bank will conduct a RM5 billion tender for seven to 92 days.
The central bank will also conduct two repo tenders comprising RM300 million for 29 days and RM500 million for 65 days and RM1.4 billion Al-Wadiah tender for seven days.
At 4pm today, the central bank will carry out up to RM17.2 billion in conventional overnight tenders and a RM2.4 billion Al-Wadiah overnight tender. — Bernama