KUALA LUMPUR, Feb 15 (Bernama) -- Short-term rates are expected to remain stable next week on Bank Negara Malaysia's (BNM) operations to absorb surplus liquidity in the cash market.
For the week just ended, the overnight Islamic reference rate remained unchanged at 2.72 per cent, while the one-, two- and three-week rates stayed at 2.79 per cent, 2.83 per cent and 2.88 per cent, respectively.
Throughout the week, BNM intervened on a daily basis to reduce excess funds from the financial system by conducting tenders, including money market tenders, Qard tenders and reverse repo tender.
The central bank also conducted Bank Negara Interbank Bills Islamic and Islamic range maturity auction.
The total liquidity surplus in the conventional system for the week declined to RM16.74 from RM22.20 billion last Friday, while in the Islamic system, it rose to RM12.0 billion from RM10.60 billion previously.
Money Market Weekly, Bank Negara Malaysia, Short-term Rates, Tenders