SHORT- TERM interbank rates are expected to remain steady next week with Bank Negara Malaysia (BNM) continuing to mop up excess funds.
During the week just ended, the central bank intervened on a daily basis flush out excess funds by conducting conventional, repo, Al-Wadiah and Commodity Murabahah Programme tenders.
On Friday, total liquidity surplus in conventional operations stood at RM20.29 billion while in the Islamic funds, the surplus was RM8.69 billion. Following this, BNM issued a late conventional tender for RM20.3 billion and a RM8 billion Al-Wadiah tender, both for three days.
The three-month Kuala Lumpur Interbank Offered Rate was at 3.29 percent. - Bernama
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