Short-term rates likely to be stable next week

Short-term rates are likely to be stable next week as Bank Negara Malaysia (BNM) is expected to continue its intervention exercise to stabilise the financial market, dealers said.

Source from (Business Times): http://www.themalaysianinsider.com/business/article/short-term-rates-likely-to-be-stable-next-week/
Published: July 06, 2013

Source from (The Malaysian Insider): http://www.themalaysianinsider.com/business/article/short-term-rates-likely-to-be-stable-next-week/
Published: July 06, 2013

They said the market is expected to be flushed with funds and BNM would call for tenders to absorb excess funds from the system.

For the week just ended, the overnight one-, two- and three-week rates moved between 2.92 per cent and 3.04 per cent.

BNM intervened on a daily basis to mop up excess funds by conducting conventional, repo and Al-Wadiah tenders.

It also called for late tenders to reduce the surplus and offered repo tenders on a daily basis.

Total liquidity surplus in conventional operations this week amounted to RM19.249 billion while excess in the Islamic system stood at RM4.7 billion.-- Bernama