Short-term rates to remain stable on BNM's intervention

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

BNM estimated today's liquidity at RM34.21 billion in the conventional system and RM12.5 billion in Islamic funds.

The central bank will conduct a RM4 billion conventional money market tender, a RM3.4 billion Qard and a RM300 million Commodity Murabahah Programme for seven days each.

At 4pm, the central bank will conduct an up to RM30.2 billion in conventional overnight tender and a RM8.9 billion Qard overnight tender.