Short-term rates end stable on BNM operations

Short-term rates end stable on BNM operations

Yesterday, Bank Negara Malaysia (BNM) provided a very clear explanation of its decision to raise the Overnight Policy Rate (OPR) by 0.25 per cent for the second time in two months. — Picture by Ahmad Zamzahuri

Tuesday, 23 Aug 2022 4:40 PM MYT

KUALA LUMPUR, Aug 23 — Short-term interbank rates closed steady today on Bank Negara Malaysia’s (BNM) operations to absorb surplus liquidity from the financial system.

Liquidity in the conventional system rose to RM42.01 billion from RM40.55 billion this morning, while Islamic funds fell to RM23.51 billion from RM31.15 billion previously.

Earlier today, the central bank called for two conventional money market tenders, two Qard tenders and a Commodity Murabahah tender.

BNM also revised conventional overnight tender from RM38.0 billion to RM41.0 billion.

At 4 pm, BNM called for a RM41.0 billion conventional money market tender and a RM23.5 billion Murabahah money market tender, both for one-day money.

The average Islamic overnight rate stood at 1.72 per cent while the one-, two- and three-week rates stood at 1.78 per cent, 1.82 per cent and 1.85 per cent respectively. — Bernama