Short-term rates to remain stable

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

The central bank estimated today's surplus at RM30.532 billion in the conventional system and RM7.725 billion in Islamic funds.

Bank Negara will call for a conventional tender for RM6 billion for five to 92 days. It will also conduct a repo tender for RM300 million for 92 days.

The central bank will call for four Al-Wadiah tenders for RM500 million for seven days, RM500 million for 14 days, RM700 million for 21 days and RM1.7 billion for 28 days.