Short-term rates to remain stable on Bank Negara's intervention

Short-term interbank rates are expected to remain stable today as Bank Negara Malaysia intervenes to absorb excess liquidity from the financial system.

The central bank estimated today's liquidity at RM26.188 billion in the conventional system and RM6.618 billion in Islamic funds.

In the conventional system, Bank Negara will conduct four conventional tenders comprising two RM2 billion for seven days and 28 days, respectively, and two RM1 billion for 14 days and 21 days, respectively.

The central bank also called for two repo tenders for RM400 million each for 31 days and 63 days.

It will also conduct three Al-Wadiah tenders -- RM1.5 billion for seven days, RM1 billion for 14 days and RM500 million for 21 days.

At 4 pm, Bank Negara will conduct up to RM19.4 billion in conventional overnight tenders and a RM3.6 billion Al-Wadiah overnight tender.