Interbank rates to remain steady on Bank Negara's intervention

Short-term interbank rates are likely to remain stable on Bank Negara Malaysia's (BNM) intervention to absorb excess liquidity from the financial system.

The central bank estimated today's liquidity at RM45.83 billion in the conventional system and RM11.19 billion in Islamic funds.

BNM will conduct a RM12.0 billion range-maturity auction for two days to seven days, a repo tender worth RM2.0 billion for 14 days, a RM2.5 billion Qard tender for seven days and a RM1.7 billion Commodity Murabahah Programme for seven days.

At 4pm, the central bank will conduct up to RM31.8 billion in conventional overnight tender and a RM7.0 billion Qard overnight tender.