KUALA LUMPUR, March 14 (Bernama) -- Short-term rates are expected to remain stable next week on Bank Negara Malaysia's (BNM) operations to absorb surplus liquidity from the cash market.
For the week just ended, the overnight Islamic reference rate settled at 2.48 per cent, while the one-, two- and three-week rates finished the week at 2.53 per cent, 2.58 per cent and 2.63 per cent, respectively.
Throughout the week, BNM intervened on a daily basis to reduce excess funds from the financial system by conducting tenders, including conventional money market tenders, Murabahah money market tenders, Islamic range maturity auction tenders, Qard tenders, reverse repo tender, and Bank Negara Interbank Bills.
The total liquidity surplus in the conventional system for the week decreased to RM19.37 billion from RM22.86 billion last Friday, while in the Islamic system, it depreciated to RM8.8 billion billion from RM10.63 billion.
Money Market Weekly, BNM, Short-term Rates, Tenders