KUALA LUMPUR: Short-term rates are set to remain stable this week on Bank Negara’s operations to absorb surplus liquidity in the financial system.
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During the week just ended, the central bank intervened daily to reduce excess funds from the financial system.
The central bank did this by conducting reverse repo tenders, qard tenders as well as Bank Negara Interbank Bills Islamic tenders and a Bank Negara Interbank Bills tender.
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The total liquidity surplus in the conventional system for the week improved to RM46.23bil from RM44.37bil in the preceding week.
In the Islamic system, the surplus liquidity eased to RM24.20bil from RM27.52bil previously.
The Malaysia Islamic Overnight Rate stood at 3% as of July 6. — Bernama