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SHORT-TERM RATES TO REMAIN STEADY NEXT WEEK

Bernama - Saturday, June 21

KUALA LUMPUR, June 21 (Bernama) -- Short-term rates are expected to remain steady on the money market next week with Bank Negara Malaysia expected to intervene to keep rates steady, dealers said.

The central bank intervened on a daily basis during the week to mop up excess funds from the system by conducting conventional, Al-Wadiah and repo tenders.

It also called for late tenders to further reduce the surplus and offered repo tenders on a daily basis.

For the week just ended, the overnight rate was at 3.47 percent while the one-week, two-week and three-week rates were at 3.49 percent, 3.50 percent and 3.52 percent respectively. Total liquidity surplus for the week stood at RM18.576 billion, of which RM13.205 billion came from the conventional system and RM5.371 billion from Islamic funds. The underlying three-month Kuala Lumpur Interbank Offered Rate (KLIBOR)remained at 3.67 percent. -- BERNAMA

TCT AS SD

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