Short-term rates to stay steady next week
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