Short-term rates to remain stable

Short-term interbank rates are expected to remain stable today as Bank Negara Malaysia continues its intervention to reduce
excess liquidity from the financial system.

The central bank estimated today's liquidity at RM22.46 billion in the conventional system and RM4.17 billion in Islamic funds.

The bank will conduct a RM5 billion range maturity auction money market tender for two days to 92 days.

It will also conduct two repo tenders -- RM150 million for 30 days and RM100 million for 92 days -- and a RM1.5 billion Al-Wadiah tender for seven days.

At 4pm, the bank will undertake a conventional overnight tender of up to RM17.2 billion and a RM2.7 billion Al-Wadiah overnight tender