Short-term rates to remain stable

Short-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 RM26.667 billion in the conventional system and RM14.842 billion in Islamic funds.

The bank will conduct four conventional money market tenders comprising RM1 billion each for seven days and 21 days respectively, RM500 million for 14 days and RM1.5 billion for 28 days.

It will also call for two repo tenders of RM250 million for 32 days and RM200 million for 46 days, a RM10.7 billion Al-Wadiah iRMA tender for four days to 92 days, and RM200 million Commodity Murabahah programme tender for 28 days.

At 4pm, Bank Negara will conduct a conventional overnight tender of up to RM22.2 billion and a RM4.0 billion Al-Wadiah overnight tender.