Short-term rates to remain stable

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

The central bank estimated today's liquidity at RM23.14 billion in the conventional system and RM2.7 billion in Islamic funds.

The bank will conduct three conventional money market tenders comprising RM1.5 billion for 28 days, RM500 million for 21 days, and RM500 million for seven days.

It will also call for a RM100 million repo tender for 92 days and three Al-Wadiah tenders consisting of RM300 million for seven days, RM400 million for 14 days and RM450 million for 21 days.

At 4pm, Bank Negara will conduct a conventional overnight tender of up to RM18 billion and a RM1.6 billion Al-Wadiah overnight tender.