SHORT-term rates are set 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 and commodity murabahah programme tenders.

The total liquidity surplus in the conventional system for the week rose to RM46.0 billion compared to RM43.35 billion in the preceding week.

In the Islamic system, the surplus liquidity widened to RM20.19 billion from  RM16.49 billion previously.

The Malaysia Islamic Overnight Rate (MYOR-i) stood at 2.99 per cent as of May 3, 2023. — Bernama / pic TMR