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 RM19.53 billion in the conventional system and RM2.91 billion in Islamic funds.

The bank will conduct a RM17.3 billion range maturity auction tender for two to 92 days and a RM600 million repo tender for 92 days.

It will also call for three Al-Wadiah tenders consisting of RM400 million for seven days, RM700 million for 14 days and RM200 million for 21 days.

At 4pm, Bank Negara will conduct a conventional overnight tender of up to RM15.9 billion and a RM1.7 billion Al-Wadiah overnight tender