Short-term rates to remain stable on Bank Negara’s intervention

Short-term rates to remain stable on Bank Negara’s intervention

Short-term interbank rates are expected to remain stable today on Bank Negara Malaysia’s intervention to absorb excess liquidity from the financial system.

The central bank estimated today’s liquidity at RM29.867 billion in the conventional system and RM7.904 billion in Islamic funds.

Bank Negara will call for a RM8 billion range maturity auction for four days to 61 days.

The central bank will also call for five Al-Wadiah tenders – RM1.5 billion for seven days, RM600 million for 14 days, RM700 million for 21 days and RM500 million for 26 days and 28 days, respectively.

At 4pm, Bank Negara will conduct up to RM21.9 billion in conventional overnight tenders and a RM4.2 billion Al-Wadiah overnight tender.

— The Malaysian Insider, 6 March 2014

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