Short-term rates seen steady next week following BNM's operations
SHORT-TERM interbank rates are expected to stay stable next week, backed by Bank Negara Malaysia's (BNM) operations to absorb surplus liquidity in the financial system.
This week, the central bank intervened daily by conducting reverse repo, Islamic reverse repo, as well as overnight reverse repo tenders to reduce excess funds in the financial system.
On a Friday-to-Friday basis, surplus liquidity in the conventional system rose to RM33.7 billion from RM26.4 billion at the end of the preceding week.
In the Islamic system, surplus liquidity climbed to RM25.9 billion from RM24.1 billion previously.
The Malaysia Islamic Overnight Rate (MYOR-i) stood at 3.00 per cent as of May 15. — BERNAMA
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