Short-term rates to remain stable

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

The central bank estimated today's liquidity at RM20.145 billion in the conventional system and RM3.459 billion in Islamic funds.

It will conduct three conventional tenders of RM1 billion for seven days, RM500 million for 21 days and RM1 billion for 28 days.

BNM will also call for a repo tender of RM300 million for 95 days and conduct two Al-Wadiah tenders of RM300 million for 14 days and 21 days respectively.

At 4pm, BNM will undertake a conventional overnight tender of up to RM17.3 billion and a RM2.9 billion Al-Wadiah overnight tender.