Stable short-term rates expected

Short-term rates are expected to remain stable on Friday, with Bank Negara Malaysia intervening to absorb excess liquidity from the financial system, dealers said.

The central bank estimated today's surplus at RM24.531 billion in the conventional system and RM11.561 billion in Islamic funds.

Bank Negara will call for four conventional tenders of RM1 billion for seven days, RM1 billion for 14 days, RM1 billion for 21 days and RM1 billion for 28 days.

It will conduct a RM200 million repo tender for 31 days and an Al-Wadiah tender of RM6.3 billion for seven to 92 days.