Short-term rates to remain stable

Short-term interbank rates are expected to remain stable today as Bank Negara intervenes to reduce excess liquidity from the financial system.

The central bank estimated today's liquidity at RM31.523 billion in the conventional system and RM14.518 billion in Islamic funds.

The bank will conduct a RM9 billion range maturity auction tender for two days to 92 days.

It will also call for two RM150 million repo tenders for 30 days and 92 days, RM10.6 billion Al-Wadiah iRMA tender for two days to 92 days and two Commodity Murabahah programme tenders comprising RM200 million for 28 days and RM400 million for 30 days.

At 4pm, Bank Negara will conduct a conventional overnight tender of up to RM22.2 billion and a RM3.3 billion Al-Wadiah overnight tender.-