TRADING in the three-month Kuala Lumpur Interbank Offered Rate (KLIBOR) futures contract on Bursa Malaysia Derivatives is likely to remain quiet next week.
KLIBOR futures were untraded throughout this week, with volume and open interest continuing to be nil.
Spot month March 2020, April 2020, May 2020 and June 2020 all pegged at 96.90, respectively.
The underlying three-month KLIBOR ended the week lower at 2.82% compared with 3.08% last Friday.
Bank Negara Malaysia, on Tuesday, slashed its benchmark overnight policy rate by 25 basis points (bps) to 2.50% to provide a more accommodative monetary environment to support the projected improvement in economic growth amid price stability.
This was the second rate cut after the central bank surprisingly cut the benchmark rate by 25 bps during its first meeting of the year on Jan 22. – March 7, 2020, Bernama