Short-Term Rates Likely To Remain Steady On BNM Intervention

KUALA LUMPUR, Dec 1 (Bernama) -- Short-term rates are expected to remain steady Wednesday on Bank Negara Malaysia's continuous intervention to absorb excess liquidity from the financial system. The central bank estimated Wednesday's liquidity at RM38.95 billion in the conventional system and RM14.17 billion in Islamic funds. Three conventional money market tenders of RM2.5 billion for seven days, RM2.0 billion for 14 days and RM1.5 billion for 30 days, as well as a repo tender of RM1 billion for 62 days will be conducted by Bank Negara. It will also undertake a Qard tender of RM5.1 billion for seven days to 30 days and a RM500 million of commodity murabahah programme for 30 days. At 4 pm, BNM will conduct up to RM32 billion in conventional overnight tender and a RM8.6 billion overnight Qard. -- BERNAMA