Short-term rates close steady

KUALA LUMPUR: Short-term interbank rates closed steady today following Bank Negara Malaysia's (BNM) intervention to absorb surplus liquidity from the financial system.
The liquidity surplus in the conventional system fell to RM21.283 billion from RM33.968 billion estimated in the morning, while in the Islamic system, the excess declined to RM3.102 billion from RM9.671 billion earlier in the day.
In the morning, BNM called for one range maturity auction, one Islamic range maturity auction and one Commodity Murabahah Programme.
BNM also conducted a conventional money market tender for RM20.1 billion and a RM3.1 billion Al-Wadiah money market tender, both for one-day money.
The overnight rate stood at 2.94 per cent while the one-, two- and three-week rates stood at 3.02 per cent, 3.06 per cent and 3.08 per cent, respectively.-