Short-Term Rates To Remain Stable On BNM's Operations

KUALA LUMPUR, Feb 16 (Bernama) -- Short-term rates are expected to remain stable on Monday on Bank Negara Malaysia’s (BNM) operations to absorb surplus liquidity from the financial system. The liquidity is estimated at RM42.7 billion in the conventional system and RM18.1 billion in Islamic funds. BNM will conduct three conventional money market tenders worth RM1 billion for seven days and RM2 billion each for 14 days and 21 days, respectively, as well as an Islamic range maturity auction (iRMA) Qard tenders valued at RM2.6 billion for seven days to 28 days. The central bank also announced the availability of reverse repo, sale and buy back agreement, and collateralised commodity Murabahah facilities for tenors of one to three months. At 4pm, BNM will conduct up to RM37.7 billion conventional overnight tender and RM15.5 billion for Murabahah overnight tender. -- BERNAMA