SHORT-TERM RATES EXPECTED TO BE STEADY

KUALA LUMPUR, July 4 (Bernama) -- Short-term rates are expected to remain stable on the money market next week as Bank Negara Malaysia (BNM) is set to continue with its interventions to keep the rates in check, dealers said.

They expect the central bank to continue to call for money market tenders on a daily basis according to the amount of excess liquidity in the market.

During the week, the central bank was in the market daily to remove excess funds from the system.

BNM conducted at least eight tenders per trading day and called for late tenders, after 4.30pm, to absorb the surplus.

On Friday, the overnight-, one-week, two-week and three-week rates ranged, at an adjusted average rate, between 1.91 percent and 1.98 percent.

Total liquidity position in the interbank system was reduced to RM26.045 billion in conventional operations and RM8.426 billion in Islamic funds.

-- BERNAMA

SRH SD

• Email Story
• IM Story
• Printable View
• Blog This

Related Articles: Business

• Indonesia cuts key rate by 25 basis pointsAFP - Friday, July 3
• RPT-S&P affirms Philippines ratings; warns on govt revenueReuters - Friday, July 3
• TEPCO seeks local govts' OK on nuclear unit restartReuters - Friday, July 3
• Seoul shares turn higher led by techs, pharmasReuters - Friday, July 3
• Nikkei sags, retailers battered by Seven & IReuters - Friday, July 3