Short-term rates to stay steady next week

The central bank intervened on a daily basis to mop up excess liquidity by conducting conventional money market, Qard, reverse repo, range-maturity auction, and Commodity Murabahah Programme tenders. — Picture by Yusof Mat IsaThe intervened on a daily basis to mop up excess liquidity by conducting conventional money market, Qard, reverse repo, range-maturity auction, and Commodity Murabahah Programme tenders. — Picture by Yusof Mat Isa, Jan 6 — Short-term rates are expected to remain stable next week with Bank Negara () likely to intervene by offering tenders to absorb surplus liquidity from the system.

For the week just-ended, the overnight rate was quoted at 2.97 per cent, while the one-, two- and three-week rates stood at 3.03 per cent, 3.07 per cent and 3.12 per cent, respectively.

The central bank intervened on a daily basis to mop up excess liquidity by conducting conventional money market, Qard, reverse repo, range-maturity auction, and Commodity Murabahah Programme tenders.

In a shortened trading week, the total liquidity surplus in the conventional system for the week just-ended declined to RM21.97 billion from RM34.1 billion last week, while in the Islamic system, it fell to RM12.6 billion from RM14.05 billion previously.



The benchmark three-month Kuala Lumpur Interbank Offered Rates (KLIBOR) stood at 3.43 per cent.

The market was closed on Monday for the New Year Holiday. — Bernama 

Source: The Malay Mail Online





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