Short-term rates to remain stable

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

The central bank estimated today's liquidity at RM23.46 billion in the conventional system and RM6.4 billion in Islamic funds.

The bank will conduct four RM1 billion conventional tenders for four days, seven days, 14 days and 28 days respectively.

It will also conduct two repo tenders of RM250 million for 32 days and RM200 million for 92 days, and three Al-Wadiah tender comprising RM1.5 billion for one day, RM1.3 billion for seven days and RM700 million for 11 days.

At 4pm, the bank will undertake a conventional overnight tender of up to RM19 billion and a RM2.6 billion Al-Wadiah overnight tender.-