Short-term rates to remain stable on Bank Negara’s intervention

KUALA LUMPUR, Jan 23 – Short-term rates are to remain stable today following Bank Negara’s intervention to absorb excess liquidity from the financial system, dealers said.   

The central bank estimated today’s surplus at RM25.6 billion in the conventional system and RM4.13 billion in Islamic funds.   

It will conduct a RM3 billion conventional tender for six to 90 days and two repo tenders comprising RM150 million for 33 days and RM400 million for 90 days.

The bank will also conduct a RM1 billion AL-Wadiah tender for eight days.

At 4 pm, the central bank will conduct a conventional overnight tender of up to RM22 billion and a RM3.1 billion Al-Wadiah overnight tender. – Bernama