Short-term Rates Set To Remain Stable Next Week On Bnm’s Operations

KUALA LUMPUR, Short-term interbank rates are expected to remain stable next week on Bank Negara Malaysia's (BNM) operations to absorb surplus liquidity from the financial system. This week, the central bank intervened daily to reduce excess funds from the financial system by conducting reverse repo, overnight reverse repo and Islamic reverse repo tenders. The surplus liquidity in the conventional system rose to RM36.20 billion from RM33.91 billion in the preceding week. In the Islamic system, surplus liquidity fell to RM12.83 billion from RM20.30 billion previously. The Malaysia Islamic Overnight Rate (MYOR-i) stood at 3.01 per cent as of September 26. Source: BERNAMA News Agency