SHORT-term rates are expected to remain stable next week on Bank Negara Malaysia’s (BNM) operations to absorb surplus liquidity in 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, Commodity Murabahah Programme tenders and Bank Negara Interbank Bills Islamic (BNIBI) tender.

The total liquidity surplus in the conventional system for the week was lower at RM38.30 billion compared to RM51.41 billion in the preceding week.

Meanwhile, in the Islamic system, the surplus fell to RM27 billion from RM30.01 billion previously.

The Malaysian Islamic Overnight Rate (MYOR-i) stood at 2.74 per cent as of April 6, 2023. — Bernama / pic TMR