Short-term rates to remain stable on Bank Negara

Short-term rates are expected to remain stable on Tuesday as Bank Negara intervenes to absorb excess liquidity from the financial system, dealers said.

The central bank estimated today's surplus at RM22.533 billion in the conventional system and RM7.34 billion in Islamic funds.

It will conduct four conventional tenders -- two RM1.5 billion for eight and 28 days respectively, and two RM1.0 billion for 14 days and 21 days respectively.

The bank will also conduct four Al-Wadiah tenders -- RM1.0 billion for six days, two RM600 million for 14 days and 21 days respectively, and one RM800 million for 28 days.

It will conduct a RM300 million repo tender for 92 days and a RM200 million Commodity Murabahah Programme tender for 30 days.

At 4 pm, Bank Negara will carry out up to RM17.2 billion in conventional overnight tenders and a RM2.1 billion Al-Wadiah overnight tender.