Short-term rates set to remain stable on BNM’s operations

SHORT-term rates are likely to remain stable next week on Bank Negara Malaysia’s (BNM) operations to absorb surplus liquidity from the financial system.

During the week just ended, the central bank intervened on a daily basis to reduce excess funds from the financial system by conducting conventional money market tenders, reverse repo tenders, Qard tenders, and Commodity Murabahah Programme tenders.

The total liquidity surplus in the conventional system for the week narrowed to RM48.71 billion from RM52.62 billion in the preceding week, while in the Islamic system, it widened to RM41.2 billion from RM36.71 billion previously.

The Malaysia Islamic Overnight Rate (MYOR-i) stood at 2.75 per cent as at Nov 24, 2022.

Bursa Malaysia and its subsidiaries will be closed on Monday in conjunction with the special public holiday as announced by the 10th Prime Minister Datuk Seri Anwar Ibrahim. — Bernama / pic TMR