Wednesday, May 25, 2011

BNM to keep short-term rates stable

KUALA LUMPUR: Short-term rates are expected to remain stable on Wednesday, May 25 as Bank Negara Malaysia (BNM) continues to siphon excess liquidity from the financial system.

The central bank estimated today's liquidity at RM29.991 billion in the conventional system and RM7.763 billion in Islamic funds.

BNM will issue a RM6 billion conventional tender with a range maturity auction of between 14 days and 44 days.

It is also offering a RM500 million repo tender for 61 days.

BNM also announced a RM800 million Al-Wadiah tender for seven days, RM550 million for 14 days and RM800 million for 21 days.

The central bank also notified that it will conduct conventional and Al-Wadiah overnight tenders of up to RM23.5 billion and RM6 billion, respectively, at 4pm. ' Bernama


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