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

KUALA LUMPUR (Feb 2, 2012): Short-term rates are expected to remain stable today on Bank Negara Malaysia's continued intervention to absorb excess liquidity from the financial market, dealers said.

Source from (The Sun Daily): http://www.thesundaily.my/news/283233
Published: February 03, 2012

The central bank estimated today's surplus at RM46.471 billion in the conventional operations and RM18.399 billion in the Islamic system.

It will conduct a range maturity auction for seven to 90 days involving RM8 billion and a RM500 million repo tender for 41 days.

Bank Negara will also call four Al-Wadiah tenders, namely RM3.6 billion for seven days, RM1.4 billion for 14 days, RM1.9 billion for 19 days and RM3 billion for 28 days.

At 4pm, the central bank will conduct a conventional overnight tender of up to RM39 billion and a RM9.5 billion Al-Wadiah overnight tender.

The price of gold today closed at RM164.31 per gramme, down 35 sen from last Tuesday. -- Bernama