SHORT-TERM RATES TO REMAIN STABLE NEXT WEEK

AZLEE NOR MAHMUD

KUALA LUMPUR, Nov 30 (Bernama) -- Short-term rates are set to remain stable next week on Bank Negara Malaysia's (BNM) operations to reduce surplus liquidity in the cash market.

For the week just ended, the overnight Islamic reference rate remained unchanged at 2.96 per cent, while the one-, two-, and three-week rates stayed at 3.03 per cent, 3.07 per cent and 3.12 per cent, respectively.

Throughout the week, BNM intervened on a daily basis to absorb surplus funds from the financial system by conducting tenders including conventional money market, Qard, Islamic range maturity auction Qard, Bank Negara Interbank Bills tender and Bank Negara Interbank Bills Islamic.

The total liquidity surplus in the conventional system for the week increased to RM34.96 billion from RM23.80 billion last week, while in the Islamic system, it declined to RM11.53 billion from RM14.50 billion previously.

-- BERNAMA