Short-term rates to remain stable

Short-term interbank rates are expected to remain stable today as Bank Negara Malaysia (BNM) continues to intervene to reduce excess liquidity in the financial system.

BNM estimated today's liquidity at RM25.482 billion in the conventional system and RM3.308 billion in Islamic funds.

The central bank will conduct a RM5 billion Range Maturity Auction tender for four to 91 days, a RM300 million repo tender for 92 days and a RM100 million Commodity Murabahah Programme tender for 14 days.

Two Al-Wadiah tenders will also be conducted, comprising RM1.2 billion for seven days, and RM1.7 billion for 14 days.

At 4pm, the bank will undertake a conventional overnight tender of up to RM20.2 billion and a RM3 billion Al-Wadiah overnight tender.-